A corporation shall indemnify a director who was wholly successful, on the merits or otherwise, in the defense of any proceeding to which he was a party because he was a director of the corporation against reasonable expenses incurred by him in connection with the proceeding.
Conn. Gen. Stat. § 33-1118
Mandatory indemnification
Known as the Connecticut Revised Nonstock Corporation Act
The act spans §§ 33–33 (207 sections).
(P.A. 96-256, S. 86, 209; P.A. 97-246, S. 56, 99.) History: P.A. 96-256 effective January 1, 1997; P.A. 97-246 deleted provision that subjected the indemnification requirement t…
Official source: Connecticut General Assembly. Reproduced from public-domain Connecticut statutes; confirm against the official source for the current text. Not legal advice.