15-3-146. COURT-ORDERED INDEMNIFICATION.

Unless limited by a corporation’s articles of incorporation, a director or officer of the corporation who is a party to a proceeding may apply for indemnification to the court conducting the proceeding, to the Tribal Court or to another court of competent jurisdiction. On receipt of an application the court, after giving any notice the court considers necessary, may order indemnification in the amount it considers proper if it determines:

1. The director or officer is entitled to mandatory indemnification under section 144, in which case the court shall also order the corporation to pay the director’s or officer’s reasonable expenses incurred to obtain court-ordered indemnification; or
2. The director or officer is fairly and reasonably entitled to indemnification in view of all the relevant circumstances, whether or not the director met the standard of conduct set forth in section 143 or was adjudged liable as described in section 143 (b) or (c), but if the director or officer was adjudged so liable indemnification is limited to reasonable expenses incurred.