Unless limited by its articles of incorporation or bylaws, a corporation shall indemnify a director who was 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 director of the corporation against reasonable expenses actually incurred by the director in connection with the proceeding.
Mo. Rev. Stat. § 355.471
Indemnification of directors
Known as the Missouri Nonprofit Corporation Act
The act spans §§ 355–355 (165 sections).
Effective: 24 Jun 1997, see footnote; (L. 1994 H.B. 1095, A.L. 1997 H.B. 655 merged with S.B. 170)
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.