§ 23-17-16-15 — Other rights to indemnification; reimbursement of expenses of appearing as witness

Indiana § 23-17-16-15

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 17: NONPROFIT CORPORATIONS
• Ch. 16: Indemnification

Text

(a) The indemnification and advance for
expenses provided for or authorized by this chapter does not exclude
other rights to indemnification and advance for expenses that a person
may have under the following:
(1) A corporation's articles of incorporation or bylaws.
(2) A resolution of the board of directors or of the members.
(3) Any other authorization, whenever adopted after notice, by a
majority vote of all the voting members of the corporation.
(b) If:
(1) articles of incorporation;
(2) bylaws;
(3) resolutions of the board of directors or of the members; or
(4) other duly adopted authorization of indemnification or
advance for expenses;
limit indemnification or advance for expenses, indemnification and
advance for expenses are valid only to the extent consistent with the
articles of incorporation, bylaws, or resolution of the board of directors
or of the members, or other duly adopted authorization of
indemnification or advance for expenses.
(c) This chapter does not limit a corporation's power to pay or
reimburse expenses incurred by a director, an officer, an employee, or
an agent in connection with the person's appearance as a witness in a
proceeding at a time when the person has not been made a named
defendant respondent to the proceeding.

Legislative History

As added by P.L.179-1991, SEC.1.