South Carolina Statutes
§ 33-8-520 — Mandatory indemnification.
Unless limited by its articles of incorporation, a corporation shall indemnify a director who was wholly successful, on the merits or otherwise, in the defense of any proceeding to which he was a party because he is or was a director of the corporation against reasonable expenses incurred by him in connection with the proceeding.
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South Carolina § 33-8-520 (Mandatory indemnification.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: Derived from 1976 Code SECTION 33-13-180 [1962 Code SECTION 12-18.18; 1962 (52) 1996; 1973 (58) 381; 1981 Act No. 146, SECTION 2; Repealed, 1988 AJ No. 444, SECTION 2], and SECTION 33-13-190 [1962 Code SECTION 12-18.19; 1962 (52) 1996; 1981 Act No. 146, SECTION 2; Repealed, 1988 Act No. 444, SECTION 2]; 1988 Act No. 444, SECTION 2.
Nearby Sections
15
§ 33-8-102
Qualifications of directors.§ 33-8-103
Number and election of directors.§ 33-8-105
Terms of directors generally.§ 33-8-106
Staggered terms for directors.§ 33-8-107
Resignation of directors.§ 33-8-108
Removal of directors by shareholders.§ 33-8-110
Vacancy on board.§ 33-8-111
Compensation of directors.§ 33-8-200
Meetings.§ 33-8-210
Action without meeting.§ 33-8-220
Notice of meeting.§ 33-8-230
Waiver of notice.