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Source Closely Held Corporations Complete Business Associations List Matched to this deck.

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A director is sued because of actions taken as a director. The director wins dismissal of all claims on the merits and seeks reimbursement of reasonable defense expenses.
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A corporation must indemnify a director only when the plaintiff was a competitor. A corporation must indemnify a director who was wholly successful in defending a proceeding because of the director's corporate role. A corporation must indemnify a director only if the director owns a majority of the shares. A corporation must indemnify a director for every judgment entered against the director in a derivative action.

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