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

Indiana Statutes

§ 23-17-16-14 — Purchase of insurance

Indiana·Title 23 BUSINESS AND OTHER ASSOCIATIONS·Art. 17 NONPROFIT CORPORATIONS·Ch. 16 Indemnification

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

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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.

Indiana § 23-17-16-14 (Purchase of insurance) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.