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Vt. Stat. Ann. tit. 11C, § 907

Indemnification of officers, employees, and agents

Known as the Mutual Benefit Enterprise Act

The act spans §§ 11–11 (158 sections).

Added 2011, No. 84 (Adj

Unless an enterprise’s articles of organization limit indemnification of an officer, employee, or agent of the enterprise:

(1) an officer of the enterprise who is not a director is entitled to mandatory indemnification under section 903 of this title and is entitled to apply for court-ordered indemnification under section 905 of this title, in each case to the same extent as a director;

(2) the enterprise may indemnify and advance expenses under this article to an officer, employee, or agent of the enterprise who is not a director to the same extent as a director.

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