S.C. Code § 33-8-520

Current through 2024 Act No. 225.

Section 33-8-520 - Mandatory 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 proceeding to which he was a party because he is or was a director of the corporation against reasonable expenses incurred by him in connection with the proceeding.

S.C. Code § 33-8-520

1988 Act No. 444, Section 2; Repealed, 1988 Act No. 444, Section 2]; 1981 Act No. 146, Section 2; 1962 (52) 1996; Repealed, 1988 AJ No. 444, Section 2], and Section 33-13-190 [1962 Code Section 12-18.19; 1981 Act No. 146, Section 2; 1973 (58) 381; 1962 (52) 1996; Derived from 1976 Code Section 33-13-180 [1962 Code Section 12-18.18.