{"data":{"id":"us-ky/krs-271b.8-540","jurisdiction":"us-ky","citation":"KRS 271B.8-540","heading":"Court-ordered indemnification.","body":"Unless a corporation's articles of incorporation provide otherwise, a director of the\ncorporation who is a party to a proceeding may apply for indemnification to the court\nconducting the proceeding or to another court of competent jurisdiction. On receipt of an\napplication, the court after giving any notice the court considers necessary may order\nindemnification if it determines:\n(1) The director is entitled to mandatory indemnification under KRS 271B.8 -520, in\nwhich case the court shall also order the corp oration to pay the director's reasonable\nexpenses incurred to obtain court-ordered indemnification; or\n(2) The director is fairly and reasonably entitled to indemnification in view of all the\nrelevant circumstances, whether or not he met the standard of co nduct set forth in\nKRS 271B.8 -510 or was adjudged liable as described in subsection (4) of KRS\n271B.8-510, but if he was adjudged so liable his indemnification shall be limited to\nreasonable expenses incurred.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=13402","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:19Z","sha256":"7740e1940c4f749ac3703269e829fb4309adaae64c012bf7e969f60b9a890930","source_id":"us-ky","stale":false,"prev":"us-ky/krs-271b.8-530","next":"us-ky/krs-271b.8-550"},"notice":"GroundRules: Original legal text. Not legal advice."}