Utah Code 16-10a-907. Indemnification of officers, employees, fiduciaries, and agents
Current as of: 2023 | Check for updates
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Unless a corporation‘s articles of incorporation provide otherwise:
(1) | an officer of the corporation is entitled to mandatory indemnification under Section 16-10a-903, and is entitled to apply for court-ordered indemnification under Section 16-10a-905, in each case to the same extent as a director; |
(a) | amended and restated articles of incorporation; |
(b) | articles of merger; and |
(c) | a document of a similar import to those described in Subsections (4)(a) and (b). See Utah Code 16-10a-102 |
(2) | the corporation may indemnify and advance expenses to an officer, employee, fiduciary, 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, fiduciary, or agent who is not a director to a greater extent, if not inconsistent with public policy, and if provided for by its articles of incorporation, bylaws, general or specific action of its board of directors, or contract. |
Enacted by Chapter 277, 1992 General Session