§ 27-1-7.5-13 — Indemnification of corporate employees other than directors

Indiana § 27-1-7.5-13

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 7.5: Indemnification of Directors

Text

The following apply unless a corporation's
articles of incorporation provide otherwise:
(1) An officer of the corporation, whether or not a director, is
entitled to mandatory indemnification under section 9 of this
chapter and is entitled to apply for court ordered indemnification
under section 11 of this chapter, in each case to the same extent
as a director.
(2) The corporation may indemnify and advance expenses under
this chapter to an officer, employee, or agent of the corporation,
whether or not a director, to the same extent as to a director.
(3) A corporation may also indemnify and advance expenses to an
officer, employee, or agent, whether or not a director, to the
extent, consistent with public policy, that may be provided by its
articles of incorporation, bylaws, general or specific action of its
board of directors, or contract.

Legislative History

As added by P.L.266-1987, SEC.6.