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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>83273</law_id><section_number>13.1-696</section_number><catch_line>Definitions</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="13.1">Corporations</unit><unit label="chapter" level="2" order_by="1" identifier="9">Virginia Stock Corporation Act</unit><unit label="article" level="3" order_by="1" identifier="10">Indemnification</unit></structure><text>
						<section><p>As used in this article:
		&#x201C;<span class="dictionary">Corporation</span>&#x201D; includes any <span class="dictionary">corporation</span> and any <span class="dictionary">domestic</span> or foreign predecessor <span class="dictionary">entity</span> of a <span class="dictionary">corporation</span> in a <span class="dictionary">merger</span> or other transaction in which the predecessor&#x2019;s existence ceased upon consummation of the transaction.
		&#x201C;<span class="dictionary">Director</span>&#x201D; or &#x201C;<span class="dictionary">officer</span>&#x201D; means an <span class="dictionary">individual</span> who is or was a <span class="dictionary">director</span> or <span class="dictionary">officer</span>, respectively, of a <span class="dictionary">corporation</span> or who, while a <span class="dictionary">director</span> or <span class="dictionary">officer</span> of the <span class="dictionary">corporation</span>, is or was serving at the <span class="dictionary">corporation</span>&#x2019;s request as a <span class="dictionary">director</span>, <span class="dictionary">officer</span>, manager, partner, trustee, employee, or agent of another <span class="dictionary">entity</span> or employee benefit plan. A <span class="dictionary">director</span> or <span class="dictionary">officer</span> is considered to be serving an employee benefit plan at the <span class="dictionary">corporation</span>&#x2019;s request if the <span class="dictionary">individual</span>&#x2019;s duties to the <span class="dictionary">corporation</span> also impose duties on, or otherwise involve services by, the <span class="dictionary">individual</span> to the plan or to participants in or beneficiaries of the plan. &#x201C;<span class="dictionary">Director</span>&#x201D; or &#x201C;<span class="dictionary">officer</span>&#x201D; includes, unless the context requires otherwise, the estate or personal representative of a <span class="dictionary">director</span> or <span class="dictionary">officer</span>.
		&#x201C;<span class="dictionary">Liability</span>&#x201D; means the obligation to pay a <span class="dictionary">judgment</span>, <span class="dictionary">settlement</span>, <span class="dictionary">penalty</span>, fine, including any excise tax assessed with respect to an employee benefit plan, or <span class="dictionary">expenses</span> incurred with respect to a <span class="dictionary">proceeding</span>.
		&#x201C;<span class="dictionary">Official capacity</span>&#x201D; means (i) when used with respect to a <span class="dictionary">director</span>, the office of <span class="dictionary">director</span> in a <span class="dictionary">corporation</span> and (ii) when used with respect to an <span class="dictionary">officer</span>, as contemplated in &#xA7;&#xA0;<a class="law" title="Advance for expenses and indemnification for officers" href="/13.1-702/">13.1-702</a>, the office in a <span class="dictionary">corporation</span> held by the <span class="dictionary">officer</span>. &#x201C;<span class="dictionary">Official capacity</span>&#x201D; does not include service for any other <span class="dictionary">entity</span> or employee benefit plan.
		&#x201C;<span class="dictionary">Party</span>&#x201D; means an <span class="dictionary">individual</span> who was, is, or is threatened to be made a <span class="dictionary">defendant</span> or respondent in a <span class="dictionary">proceeding</span>.
		&#x201C;<span class="dictionary">Proceeding</span>&#x201D; means any threatened, pending, or completed action, suit, or <span class="dictionary">proceeding</span>, whether civil, criminal, administrative, arbitrative, or investigative and whether formal or informal.</p></section></text><history>Code 1950, &#xA7; 13.1-3.1; 1968, c. 570; 1975, c. 500; 1979, c. 99; 1985, c. 522; 2005, c. 765; 2009, c. 587; 2019, c. 734.</history><metadata></metadata></law>
