Unless limited by its articles of incorporation, a banking institution 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 of being a director of the banking institution against reasonable expenses incurred by the director in connection with the proceeding. [1989 c.324 § 19; 1997 c.631 § 108]

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[1985 c.786 § 20; 1987 c.216 § 4; renumbered 707.849 in 1989]

[1977 c.135 § 20; 1981 c.192 § 6; repealed by 1985 c.786 § 70]