8 Del. C. § 113
This is the official text of 8 Del. C. § 113, part of Delaware’s Del. C — part of the compiled statutory law of Delaware, published by the state as "Del. C." Browse the sections below, each linked to its official government source.
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§ Â 113. Proxy expense reimbursement.
Official statutory text
(a) The bylaws may provide for the reimbursement by the corporation of expenses incurred by a stockholder in soliciting proxies in connection with an election of directors, subject to such procedures or conditions as the bylaws may prescribe, including:
(1) Conditioning eligibility for reimbursement upon the number or proportion of persons nominated by the stockholder seeking reimbursement or whether such stockholder previously sought reimbursement for similar expenses;
(2) Limitations on the amount of reimbursement based upon the proportion of votes cast in favor of 1 or more of the persons nominated by the stockholder seeking reimbursement, or upon the amount spent by the corporation in soliciting proxies in connection with the election;
(3) Limitations concerning elections of directors by cumulative voting pursuant to § 214 of this title; or
(4) Any other lawful condition.
(b) No bylaw so adopted shall apply to elections for which any record date precedes its adoption.
(1) Conditioning eligibility for reimbursement upon the number or proportion of persons nominated by the stockholder seeking reimbursement or whether such stockholder previously sought reimbursement for similar expenses;
(2) Limitations on the amount of reimbursement based upon the proportion of votes cast in favor of 1 or more of the persons nominated by the stockholder seeking reimbursement, or upon the amount spent by the corporation in soliciting proxies in connection with the election;
(3) Limitations concerning elections of directors by cumulative voting pursuant to § 214 of this title; or
(4) Any other lawful condition.
(b) No bylaw so adopted shall apply to elections for which any record date precedes its adoption.
Status: in_force · Read it on the official government site
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