§ 27-1-7.5-14 — Liability insurance purchased and maintained by corporation

Indiana § 27-1-7.5-14

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 7.5: Indemnification of Directors

Text

A corporation may purchase and maintain
insurance on behalf of an individual who is or was a director, officer,
employee, or agent of the corporation, or who, while a director, officer,
employee, or agent of the corporation, is or was serving at the request
of the corporation as a director, officer, partner, trustee, employee, or
agent of another foreign or domestic corporation, 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, officer, employee,
or 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.

Legislative History

As added by P.L.266-1987, SEC.6.