Mandatory indemnification

Tenn. Code Ann. § 48-18-503, under Indemnification.

Tenn. Code Ann. § 48-18-503

Unless limited by its charter, 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 reasonable expenses incurred by the director in connection with the proceeding.