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Current as of January 01, 2023 | Updated by FindLaw Staff
Unless a corporation's articles of incorporation provide otherwise:
(1) An officer of the corporation is entitled to mandatory indemnification under G.S. 55A-8-52, and is entitled to apply for court-ordered indemnification under G.S. 55A-8-54, in each case to the same extent as a director;
(2) The corporation may indemnify and advance expenses under this Part to an officer, employee, or agent of the corporation to the same extent as to a director; and
(3) A corporation may also indemnify and advance expenses to an officer, employee, or agent to the extent, consistent with public policy, that may be provided by its articles of incorporation, bylaws, general or specific action of its board of directors, or contract.
Cite this article: FindLaw.com - North Carolina General Statutes Chapter 55A. North Carolina Nonprofit Corporation Act § 55A-8-56. Indemnification of officers, employees, and agents - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-55a-north-carolina-nonprofit-corporation-act/nc-gen-st-sect-55a-8-56/
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 or via Westlaw before relying on it for your legal needs.
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