LegalFix
Sign In

Section 33-31-856. Indemnification of officers, employees, and agents.

SC Code § 33-31-856 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

Unless limited by a corporation's articles of incorporation:

(1) an officer of the corporation who is not a director is entitled to mandatory indemnification under Section 33-31-852 and is entitled to apply for court-ordered indemnification under Section 33-31-854 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 who is not a director to the same extent as to a director; and

(3) a corporation also may 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.

HISTORY: 1994 Act No. 384, Section 1.

Previous Section
Section 33-31-855. Determination and authorization of indemnification.
Next Section
Section 33-31-857. Insurance.