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17 chapters · 157 sections in this title.
11C V.S.A. ch. 009, § 901 Article definitions
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§ 901. Article definitions In this article: (1) “Enterprise” includes any enterprise or foreign predecessor entity of an enterprise in a merger or other transaction in which the predecessor’s existence ceased upon the consummation of the transaction. (2) “Director” means an indiv…
11C V.S.A. ch. 009, § 902 Authority to indemnify
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§ 902. Authority to indemnify (a) Except as provided in subsection (d) of this section, an enterprise may indemnify an individual made a party to a proceeding because the individual is or was a director against liability incurred in the proceeding if: (1) the director conducted h…
11C V.S.A. ch. 009, § 903 Mandatory indemnification
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§ 903. Mandatory indemnification Unless limited by its articles of organization, an enterprise 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 dir…
11C V.S.A. ch. 009, § 904 Advance for expenses
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§ 904. Advance for expenses (a) An enterprise 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 enterprise a written affirmation of his or her…