§ 27-2-7-2 — Exemption from personal liability

No officer, director or trustee of any insurer
shall be subject to any personal liability by reason of any payment, or
determination not to contest payment, deemed by the board of directors
or trustees to be in the corporate interests of such insurer, of any
license, excise, privilege, premium, occupation or other fee or tax to
any state, territory or political subdivision thereof (including the
District of Columbia), unless prior to such payment the statute,
ordinance or other law imposing such fee or tax shall have been
expressly held invalid by the state court having final appellate
jurisdiction in the premises, or by the Supreme Court of the United
States.
Formerly: Acts 1945, c.123, s.2.