2762

LAWS OF MARYLAND

Ch. 737

(J) UNLESS LIMITED BY THE CHARTER:

(1)  AN OFFICER OF THE CORPORATION SHALL BE
INDEMNIFIED AS AND TO THE EXTENT PROVIDED IN SUBSECTION (D)
OF THIS SECTION FOR A DIRECTOR AND SHALL BE ENTITLED, TO THE
SAME EXTENT AS A DIRECTOR, TO SEEK INDEMNIFICATION PURSUANT
TO THE PROVISIONS OF SUBSECTION (D);

(2)  A CORPORATION MAY INDEMNIFY AND ADVANCE
EXPENSES TO AN OFFICER, EMPLOYEE, OR AGENT OF THE
CORPORATION TO THE SAME EXTENT THAT IT MAY INDEMNIFY
DIRECTORS UNDER THIS SECTION; AND

(3)  A CORPORATION, IN ADDITION, MAY INDEMNIFY
AND ADVANCE EXPENSES TO AN OFFICER, EMPLOYEE, OR AGENT WHO
IS NOT A DIRECTOR TO SUCH FURTHER EXTENT, CONSISTENT WITH
LAW, AS MAY BE PROVIDED BY ITS CHARTER, BYLAWS, GENERAL OR
SPECIFIC ACTION OF ITS BOARD OF DIRECTORS, OR CONTRACT.

(K) A CORPORATION MAY PURCHASE AND MAINTAIN INSURANCE
ON BEHALF OF ANY PERSON WHO IS OR WAS A DIRECTOR, OFFICER,
EMPLOYEE, OR AGENT OF THE CORPORATION, OR WHO, WHILE A
DIRECTOR, OFFICER, EMPLOYEE, OR AGENT OF THE CORPORATION, IS
OR WAS SERVING AT THE REQUEST OF THE CORPORATION AS A
DIRECTOR, OFFICER, PARTNER, TRUSTEE, EMPLOYEE, OR AGENT OF
ANOTHER FOREIGN OR DOMESTIC CORPORATION, PARTNERSHIP, JOINT
VENTURE, TRUST, OTHER ENTERPRISE, OR EMPLOYEE BENEFIT PLAN
AGAINST ANY LIABILITY ASSERTED AGAINST AND INCURRED BY SUCH
PERSON IN ANY SUCH CAPACITY OR ARISING OUT OF SUCH PERSON'S
POSITION, WHETHER OR NOT THE CORPORATION WOULD HAVE THE
POWER TO INDEMNIFY AGAINST LIABILITY UNDER THE PROVISIONS OF
THIS SECTION.

(L) ANY INDEMNIFICATION OF, OR ADVANCE OF EXPENSES TO,
A DIRECTOR IN ACCORDANCE WITH THIS SECTION, IF ARISING OUT
OF A PROCEEDING BY OR IN THE RIGHT OF THIS THE CORPORATION,
SHALL BE REPORTED IN WRITING TO THE STOCKHOLDERS WITH THE
NOTICE OF THE NEXT STOCKHOLDERS' MEETING OR PRIOR TO THE
MEETING.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1981.

Approved May 19, 1981.

CHAPTER 738
(Senate Bill 766)
AN ACT concerning

Vehicle Laws - Point Assessments