Mich. Comp. Laws § 450.1563

Indemnification against actual and reasonable expenses.

Michigan · Michigan Compiled Laws — BUSINESS CORPORATION ACT (Act 284 of 1972) · Status: effective

Cite this

Citation: Mich. Comp. Laws § 450.1563, Indemnification against actual and reasonable expenses, Michigan, version 1 as recorded 2026-08-18, yourstate.us, https://yourstate.us/provision/1363720
Permanent ID: ys:prov:1363720@1
SHA-256: fed2aa393197c80249b5635de6e2e8d5508a6b78a8f1ffa6adf0b7de0120fb61

The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.

Full text

To the extent that a director or officer of a corporation has been successful on the merits or otherwise in defense of an action, suit, or proceeding referred to in section 561 or 562, or in defense of a claim, issue, or matter in the action, suit, or proceeding, the corporation shall indemnify him or her against actual and reasonable expenses, including attorneys' fees, incurred by him or her in connection with the action, suit, or proceeding and an action, suit, or proceeding brought to enforce the mandatory indemnification provided in this section.