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Mich. Comp. Laws § 450.1563

Indemnification against actual and reasonable expenses

Applied in 1 court decision — leading case 152 F. Supp. 3d 956 - Home-Owners Insurance v. Allied Property & Casualty Insurance (2016)

Most recently applied in 152 F. Supp. 3d 956 - Home-Owners Insurance v. Allied Property & Casualty Insurance (January 2016)

1972, Act 284, Eff

Sec. 563. To the extent that a director or officer of a corporation has been successful on the merits or otherwise in defense of an action, suit, or proceeding referred to in section 561 or 562, or in defense of a claim, issue, or matter in the action, suit, or proceeding, the corporation shall indemnify him or her against actual and reasonable expenses, including attorneys' fees, incurred by him or her in connection with the action, suit, or proceeding and an action, suit, or proceeding brought to enforce the mandatory indemnification provided in this section.

Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.