Revised Code of Washington
Wash. Rev. Code § 23B.08.560 (2025)
Shareholder authorized indemnification and advancement of expenses
✓ laws through the 2025 session: 2026 session laws are not yet included
Find cases:
SyfertCases citing this section
WA-LEGapp.leg.wa.gov
JustiaTitle on Justia
CornellLII Search
CasesGoogle Scholar
(1) If authorized by the articles of incorporation, a bylaw adopted or ratified by the shareholders, or a resolution adopted or ratified, before or after the event, by the shareholders, a corporation shall have power to indemnify or agree to indemnify a director made a party to a proceeding, or obligate itself to advance or reimburse expenses incurred in a proceeding, without regard to the limitations in RCW 23B.08.510 through 23B.08.550, provided that no such indemnity shall indemnify any director from or on account of:
(a) Acts or omissions of the director finally adjudged to be intentional misconduct or a knowing violation of law;
(b) Conduct of the director finally adjudged to be in violation of RCW 23B.08.310; or
(c) Any transaction with respect to which it was finally adjudged that such director personally received a benefit in money, property, or services to which the director was not legally entitled.
(2) Unless the articles of incorporation, or a bylaw or resolution adopted or ratified by the shareholders, provide otherwise, any determination as to any indemnity or advance of expenses under subsection (1) of this section shall be made in accordance with RCW 23B.08.550.
[ 1989 c 165 s 111.]
Notes of Decisions
Cited in 1
case, 2018–2018 · leading case: Deborah Burksfield v. LSI Props., LLC, No. 34772-9 (Wash. Ct. App. Mar. 15, 2018).
Deborah Burksfield v. LSI Props., LLC, No. 34772-9 (Wash. Ct. App. Mar. 15, 2018). “And see RCW 23B.08.560 (shareholder authorized indemnification).”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.