Louisiana Revised Statutes 12:1-852 – Mandatory indemnification
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Terms Used In Louisiana Revised Statutes 12:1-852
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
A corporation shall indemnify a director who was wholly successful, on the merits or otherwise, in the defense of any proceeding to which the director was a party because he or she was a director of the corporation against expenses incurred by the director in connection with the proceeding.
Acts 2014, No. 328, §1, eff. Jan. 1, 2015.