§ 27-1-7.5-5 — "Official capacity" defined

Indiana § 27-1-7.5-5

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

Text

(a) As used in this chapter, "official capacity"
means:
(1) when used with respect to a director, the office of director in
a corporation; and
(2) when used with respect to an individual other than a director,
as contemplated in section 13 of this chapter, the office in a
corporation held by the officer or the employment or agency
relationship undertaken by the employee or agent on behalf of the
corporation.
(b) The term does not include service for any other foreign or
domestic corporation or any partnership, joint venture, trust, employee
benefit plan, or other enterprise, whether for profit or not.

Legislative History

As added by P.L.266-1987, SEC.6. Amended by P.L.5-1988, SEC.141.