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115 chapters · 1,835 sections in this title.
4 CMC § 4494 Advance for Expenses
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Advance for Expenses. (a) A corporation may pay for or reimburse the reasonable expenses incurred by a director who is a party to a proceeding in advance of final disposition of the proceeding if: (1) The director furnishes the corporation a written affirmation of his good faith …
4 CMC § 4495 Court-Ordered Indemnification
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Court-Ordered Indemnification. Unless a corporation’s articles of incorporation provide otherwise, a director of the corporation who is a party to a proceeding may apply for indemnification to the court conducting the proceeding or to another court of competent jurisdiction. On r…
4 CMC § 4496 Determination and Authorization of Indemnification
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Determination and Authorization of Indemnification. (a) A corporation may not indemnify a director under 4 CMC § 4492 unless authorized in the specific case after a determination has been made that indemnification of the director is permissible in the circumstances because he has…
4 CMC § 4497 Indemnification of Officers, Employees, and Agents
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Indemnification of Officers, Employees, and Agents. Unless a corporation’s articles of incorporation provide otherwise: (1) An officer of the corporation who is not a director is entitled to mandatory indemnification under 4 CMC § 4493, and is entitled to apply for courtordered i…
