A corporation must indemnify an individual who is or was a director or officer who was wholly successful, on the merits or otherwise, in the defense of any proceeding to which the individual was a party because he or she is or was a director or officer of the corporation against expenses incurred by the individual in connection with the proceeding.
Fla. Stat. § 607.0852
Mandatory indemnification
Known as the Florida Business Corporation Act
The act spans §§ 607–607 (263 sections).
History.--s. 109, ch. 2019-90.
Official source: Online Sunshine (Florida Legislature). Reproduced from public-domain Florida statutes; confirm against the official source for the current text. Not legal advice.