35-1-457. (Temporary) Indemnification of officers, employees, and agents. Unless a corporation's articles of incorporation provide otherwise:
(1) an officer of the corporation who is not a director is entitled to mandatory indemnification under 35-1-453 and is entitled to apply for court-ordered indemnification under 35-1-455 to the same extent as a director;
(2) the corporation may indemnify and advance expenses under 35-1-451 through 35-1-459 to an officer, employee, or agent of the corporation who is not a director to the same extent as to a director; and
(3) a corporation may also indemnify and advance expenses to an officer, employee, or agent who is 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. (Repealed effective June 1, 2020--secs. 269, 274, Ch. 271, L. 2019.)
History: En. Sec. 105, Ch. 368, L. 1991.
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