Vt. Stat. Ann. tit. 11C, § 907
Indemnification of officers, employees, and agents
Redline — July 1, 2021 → current.View current text →
Current — June 1, 2022
As of July 1, 2021
Unless an enterprise's articles of organization limit indemnification of an officer, employee, or agent of the enterprise:
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;
(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. Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.
(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.