                                 CODE OF VIRGINIA

ADVANCE FOR EXPENSES AND INDEMNIFICATION FOR OFFICERS (§ 13.1-702)

Unless limited by a corporation&#8217;s articles of incorporation:

1. An officer of the corporation who is a party to a proceeding because he is an
officer is entitled to mandatory indemnification under &#xA7; 13.1-698 and is
entitled to apply for court-ordered advance or reimbursement of expenses and
indemnification under &#xA7; 13.1-700.1, in each case to the same extent as a
director; and

2. The corporation may indemnify and advance expenses under this article to an
officer who is a party to a proceeding because the individual is an officer to
the same extent as to a director.

HISTORY: Code 1950, § 13.1-3.1; 1968, c. 570; 1975, c. 500; 1979, c. 99; 1985,
c. 522; 2005, c. 765; 2019, c. 734.