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. § 33-772
Mandatory indemnification
Known as the Connecticut Business Corporation Act
The act spans §§ 33–33 (278 sections).
(P.A. 94-186, S. 109, 215; P.A. 96-271, S. 78, 254; P.A. 97-246, S. 14, 99.) History: P.A. 94-186 effective January 1, 1997; P.A. 96-271 replaced “articles” of incorporation wit…
Official source: Connecticut General Assembly. Reproduced from public-domain Connecticut statutes; confirm against the official source for the current text. Not legal advice.