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Current as of January 01, 2025 | Updated by Findlaw Staff
1. The corporation may indemnify any current or former director or employee for expenses actually and reasonably incurred by him in connection with any claim asserted against him in the absence of his gross negligence, intentional misconduct, or other willful and wrongful acts or omissions.
2. If the corporation has not fully indemnified him, the court in the proceeding in which any claim against such director or employee has been asserted or any court having the jurisdiction of an action instituted by such director or employee on his claim for indemnity may assess indemnity against the corporation, its receiver, or trustee for expenses authorized by this section.
Cite this article: FindLaw.com - Missouri Revised Statutes Title XIV. Roads and Waterways § 238.342. Indemnification of directors, employees - last updated January 01, 2025 | https://codes.findlaw.com/mo/title-xiv-roads-and-waterways/mo-rev-st-238-342/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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