New Hampshire § 293-A-853 - Section 293-A:8.53 Advance for Expenses.
Full text of New Hampshire New Hampshire Revised Statutes Annotated § 293-A-853 — Section 293-A:8.53 Advance for Expenses., with citation guidance and answers to common questions.
§ 293-A-853. Section 293-A:8.53 Advance for Expenses.
(a) A corporation may, before final disposition of a proceeding, advance funds to pay for or reimburse expenses incurred in connection with the proceeding by an individual who is a party to the proceeding because that individual is a member of the board of directors if the director delivers to the corporation: (1) a signed written affirmation of the director's good faith belief that the relevant standard of conduct described in RSA 293-A:8.51 has been met by the director or that the proceeding involves conduct for which liability has been eliminated under a provision of the articles of incorporation as authorized by RSA 293-A:2.02(b)(4); and (2) a signed written undertaking of the director to repay any funds advanced if the director is not entitled to mandatory indemnification under RSA 293-A:8.52 and it is ultimately determined under RSA 293-A:8.54 or RSA 293-A:8.55 that the director has not met the relevant standard of conduct described in RSA 293-A:8.51. (b) The undertaking required by subsection (a)(2) must be an unlimited general obligation of the director but need not be secured and may be accepted without reference to the financial ability of the director to make repayment. (c) Authorizations under this section shall be made: (1) by the board of directors: (i) if there are 2 or more qualified directors, by a majority vote of all the qualified directors (a majority of whom shall for such purpose constitute a quorum) or by a majority of the members of a committee of 2 or more qualified directors appointed by such a vote; or (ii) if there are fewer than 2 qualified directors, by the vote necessary for action by the board in accordance with RSA 293-A:8.24(c), in which authorization directors who are not qualified directors may participate; or (2) by the shareholders, but shares owned by or voted under the control of a director who at the time is not a qualified director may not be voted on the authorization.
Source: official New Hampshire text · Last verified 2026-08-27
Frequently Asked Questions About New Hampshire § 293-A-853
What does New Hampshire Revised Statutes Annotated § 293-A-853 cover?
Section 293-A-853 ("Section 293-A:8.53 Advance for Expenses.") is part of the New Hampshire Revised Statutes Annotated, the codified statutory law of New Hampshire. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Hampshire § 293-A-853?
A common citation format is "New Hampshire Revised Statutes Annotated § 293-A-853" (New Hampshire). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Hampshire law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Hampshire official source linked on this page or consult a licensed New Hampshire attorney.
How does New Hampshire § 293-A-853 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Hampshire can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Hampshire.