§ 13.1-702. Indemnification of officers
Unless limited by a corporation's articles of incorporation:
1. An officer of the corporation is entitled to mandatory indemnification under § 13.1-698, and is entitled to apply for court-ordered indemnification under § 13.1-700.1, in each case to the same extent as a director; and
2. The corporation may indemnify and advance expenses under this article to an officer of the corporation to the same extent as to a director.
(Code 1950, § 13.1-3.1; 1968, c. 570; 1975, c. 500; 1979, c. 99; 1985, c. 522; 2005, c. 765.)
Sections: Previous 13.1-696 13.1-697 13.1-698 13.1-699 13.1-700 13.1-700.1 13.1-701 13.1-702 13.1-703 13.1-704 13.1-705 13.1-706 13.1-707 13.1-708 13.1-709 NextLast modified: April 16, 2009