Oregon § 723.576 Liability insurance for director, officer, employee or agent

Oregon Statutes

§ 723.576 — Liability insurance for director, officer, employee or agent

Oregon § 723.576

Vol.18

Title 54Credit Unions, Lending Institutions and Pawnbrokers

Ch. 723Credit Unions

This text of Oregon § 723.576 (Liability insurance for director, officer, employee or agent) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 723.576 (2026).

Text

A credit union may purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the credit union, or who is or was serving at the request of the credit union as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against such person and incurred by such person in any such capacity or arising out of such person’s status as such, whether or not the credit union would have the power to indemnify such person against such liability.

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A credit union may purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the credit union, or who is or was serving at the request of the credit union as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against such person and incurred by such person in any such capacity or arising out of such person’s status as such, whether or not the credit union would have the power to indemnify such person against such liability.