Section 10-2B-8.58 Application of indemnification provisions. - Alabama Statutes

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Section 10-2B-8.58

Application of indemnification provisions.

(a) Any indemnification, or advance for expenses, authorized under Division E of this article shall not be deemed exclusive of and shall be in addition to that which may be contained in a corporation's articles of incorporation, bylaws, a resolution of its shareholders or board of directors, or in a contract or otherwise.

(b) Division E of this article does not limit a corporation's power to pay or reimburse expenses incurred by a director in connection with the director's appearance as a witness in a proceeding at a time when he or she has not been made a named defendant or respondent to the proceeding.

(Acts 1994, No. 94-245, p. 343, §1.)

State Codes and Statutes

Statutes > Alabama > Title10 > Chapter2B > 10-2B-8_58

Section 10-2B-8.58

Application of indemnification provisions.

(a) Any indemnification, or advance for expenses, authorized under Division E of this article shall not be deemed exclusive of and shall be in addition to that which may be contained in a corporation's articles of incorporation, bylaws, a resolution of its shareholders or board of directors, or in a contract or otherwise.

(b) Division E of this article does not limit a corporation's power to pay or reimburse expenses incurred by a director in connection with the director's appearance as a witness in a proceeding at a time when he or she has not been made a named defendant or respondent to the proceeding.

(Acts 1994, No. 94-245, p. 343, §1.)

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State Codes and Statutes

Statutes > Alabama > Title10 > Chapter2B > 10-2B-8_58

Section 10-2B-8.58

Application of indemnification provisions.

(a) Any indemnification, or advance for expenses, authorized under Division E of this article shall not be deemed exclusive of and shall be in addition to that which may be contained in a corporation's articles of incorporation, bylaws, a resolution of its shareholders or board of directors, or in a contract or otherwise.

(b) Division E of this article does not limit a corporation's power to pay or reimburse expenses incurred by a director in connection with the director's appearance as a witness in a proceeding at a time when he or she has not been made a named defendant or respondent to the proceeding.

(Acts 1994, No. 94-245, p. 343, §1.)