State Codes and Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter21 > 21-20_104

21-20,104. Mandatory indemnification.A corporation shall indemnify a director who was wholly successful, on the merits or otherwise, in the defense of any proceeding to which he or she was a party because he or she was a director of the corporation against reasonable expenses incurred by him or her in connection with the proceeding. SourceLaws 1995, LB 109, § 104.AnnotationsThe nonpayment of corporate taxes and the issuance of a certificate of dissolution by the Secretary of State effectively dissolves a corporation, which begins the running of the 2-year statute of limitations. Eiche v. Blankenau, 253 Neb. 255, 570 N.W.2d 190 (1997).