Unless limited by its articles of incorporation, a corporation shall indemnify a director who was wholly successful, on the merits or otherwise, in the defense of a proceeding to which the director was a party because he is or was a director of the corporation against reasonable expenses actually incurred by the director in connection with the proceeding.
S.C. Code Ann. § 33-31-852
Mandatory indemnification
Known as the South Carolina Nonprofit Corporation Act
The act spans §§ 33–33 (186 sections).
1994 Act No. 384, SECTION 1.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.