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 the director was a party because the director is or was a director of the corporation against expenses incurred by the director in connection with the proceeding. 89 Acts, ch 288, §100 ; 2002 Acts, ch 1154, §46, 125 ; 2021 Acts, ch 165, §112, 230 Referred to in §490.853 , 490.854 , 490.856 , 491.3 , 491.16 , 497.34 , 498.36 , 499.59A , 508C.16 , 524.801