Indiana § 23-17-16-14 Purchase of insurance

Indiana Statutes

§ 23-17-16-14 — Purchase of insurance

Indiana § 23-17-16-14

Title 23BUSINESS AND OTHER ASSOCIATIONS

Art. 17NONPROFIT CORPORATIONS

Ch. 16Indemnification

This text of Indiana § 23-17-16-14 (Purchase of insurance) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 23-17-16-14 (2026).

Text

A corporation may purchase and maintain insurance on behalf of an individual who is or was:

(1)a director;

(2)an officer;

(3)an employee or agent of the corporation; or

(4)while a director, an officer, an employee, or an agent of the corporation, is or was serving at the request of the corporation as a director, an officer, a member, a manager, a partner, a trustee, an employee, or an agent of another foreign or domestic corporation, limited liability company, partnership, joint venture, trust, employee benefit plan, or other enterprise; against liability asserted against or incurred by the individual in that capacity or arising from the individual's status as a director, an officer, an employee, or an agent, whether or not the corporation would have power to indemnify the individual a

Free access — add to your briefcase to read the full text and ask questions with AI

A corporation may purchase and maintain
insurance on behalf of an individual who is or was:
(1) a director;
(2) an officer;
(3) an employee or agent of the corporation; or
(4) while a director, an officer, an employee, or an agent of the
corporation, is or was serving at the request of the corporation as
a director, an officer, a member, a manager, a partner, a trustee,
an employee, or an agent of another foreign or domestic
corporation, limited liability company, partnership, joint venture,
trust, employee benefit plan, or other enterprise;
against liability asserted against or incurred by the individual in that
capacity or arising from the individual's status as a director, an officer,
an employee, or an agent, whether or not the corporation would have
power to indemnify the individual against the same liability under
section 8 or 9 of this chapter.