Wyoming § 17-16-854 Court-ordered indemnification and advance for
expenses

Wyoming Statutes

§ 17-16-854 — Court-ordered indemnification and advance for expenses

Wyoming § 17-16-854

Title 17Corporations, Partnerships and Associations

Ch. 16WYOMING BUSINESS CORPORATION ACT

Art. 8DIRECTORS AND OFFICERS

This text of Wyoming § 17-16-854 (Court-ordered indemnification and advance for expenses) is published on Counsel Stack Legal Research, covering Wyoming primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wyo. Stat. Ann. § 17-16-854 (2026).

Text

(a)A director who is a party to a proceeding because he is a director may apply for indemnification or an advance for expenses to the court conducting the proceeding or to another court of competent jurisdiction. After receipt of an application and after giving any notice it considers necessary, the court shall:

(i)Order indemnification if the court determines that the director is entitled to mandatory indemnification under W.S. 17-16-852;

(ii)Order indemnification or advance for expenses if the court determines that the director is entitled to indemnification or advance for expenses pursuant to a provision authorized by W.S. 17-16-858(a); or

(iii)Order indemnification or advance for expenses if the court determines, in view of all the relevant circumstances, that it is fair and reason

Free access — add to your briefcase to read the full text and ask questions with AI

(a) A director who is a party to a proceeding because he
is a director may apply for indemnification or an advance for
expenses to the court conducting the proceeding or to another
court of competent jurisdiction. After receipt of an
application and after giving any notice it considers necessary,
the court shall:
(i) Order indemnification if the court determines
that the director is entitled to mandatory indemnification under
W.S. 17-16-852;
(ii) Order indemnification or advance for expenses if
the court determines that the director is entitled to
indemnification or advance for expenses pursuant to a provision
authorized by W.S. 17-16-858(a); or
(iii) Order indemnification or advance for expenses
if the court determines, in view of all the relevant
circumstances, that it is fair and reasonable:
(A) To indemnify the director; or
(B) To advance expenses to the director, even if
he has not met the standard of conduct set forth in W.S.
17-16-851(a), failed to comply with W.S. 17-16-853 or was
adjudged liable in a proceeding referred to in W.S.
17-16-851(d)(i) or (ii), but if the director was adjudged so
liable his indemnification shall be limited to expenses incurred
in connection with the proceeding.
(b) If the court determines that the director is entitled
to indemnification under paragraph (a)(i) of this section or to
indemnification or advance for expenses under paragraph (a)(ii)
of this section, it shall also order the corporation to pay the
director's expenses incurred in connection with obtaining
court-ordered indemnification or advance for expenses. If the
court determines that the director is entitled to
indemnification or advance for expenses under paragraph (a)(iii)
of this section, it may also order the corporation to pay the
director's expenses to obtain court-ordered indemnification or
advance for expenses.