N.C. Gen. Stat. § 55A-8-52: Mandatory indemnification.
Where this section sits in the code
- Chapter 55A North Carolina Nonprofit Corporation Act.
- Article 8. Directors and Officers.
- Part 5. 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 proceedings to which the director was a party because he is or was a director of the corporation against reasonable expenses actually incurred by the director in connection with the proceeding. (1977, c. 236, s. 2; 1993, c. 398, s. 1.)
Collected 2026-08-27T18:06:02Z. Source file · JSON