O.C.G.A.
O.C.G.A. § 14-3-852 (2019)
Indemnification for reasonable expenses of successful defense
✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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A corporation shall indemnify a director who was successful, on the merits or otherwise, in the defense of any proceeding to which the director was a party because the director was a director of the corporation against reasonable expenses incurred by the director in connection with the proceeding.
History
(Code 1981, § 14-3-852, enacted by Ga. L. 1991, p. 465, § 1; Ga. L. 1997, p. 1165, § 14.)
Annotations
COMMENT Note to 1997 Amendment Amendments were made to conform the definitions to changes made in the Business Corporation Code in 1996. Comments to the 1996 amendments to the comparable provisions of the Business Corporation Code are applicable to these provisions.