District of Columbia § 1-743 Exculpatory provisions; insurance.

District of Columbia Statutes

§ 1-743 — Exculpatory provisions; insurance.

District of Columbia § 1-743

Title 1Government Organization.

Ch. 7District of Columbia Employees Retirement Program Management.

Subch. VFiduciary Responsibility; Civil Sanctions.

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Bluebook

D.C. Code § 1-743 (2026).

Text

(a)Any provision in an agreement or instrument which purports to relieve a fiduciary from responsibility or liability for any responsibility, obligation, or duty under this subchapter shall be void as against public policy.

(b)Nothing in this section shall preclude:

(1)The Board from purchasing insurance for its fiduciaries or for itself to cover liability or losses occurring by reason of the act or omission of a fiduciary, if such insurance permits recourse by the insurer against the fiduciary in the case of a breach of a fiduciary obligation by such fiduciary;

(2)A fiduciary from purchasing insurance to cover liability under this subchapter from and for his own account; or

(3)An employee organization from purchasing insurance to cover potential liability of one or more per

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(a) Any provision in an agreement or instrument which purports to relieve a fiduciary from responsibility or liability for any responsibility, obligation, or duty under this subchapter shall be void as against public policy.

(b) Nothing in this section shall preclude:

(1) The Board from purchasing insurance for its fiduciaries or for itself to cover liability or losses occurring by reason of the act or omission of a fiduciary, if such insurance permits recourse by the insurer against the fiduciary in the case of a breach of a fiduciary obligation by such fiduciary;

(2) A fiduciary from purchasing insurance to cover liability under this subchapter from and for his own account; or

(3) An employee organization from purchasing insurance to cover potential liability of one or more persons who serve in a fiduciary capacity with regard to the Fund from which the annuities and other retirement and disability benefits of the members of such employee organization are paid.