South Carolina § 33-8-570 Insurance.

South Carolina Statutes

§ 33-8-570 — Insurance.

South Carolina § 33-8-570

Title 33CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS

Ch. 8DIRECTORS AND OFFICERS

This text of South Carolina § 33-8-570 (Insurance.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 33-8-570 (2026).

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 him in that capacity or arising from his status as a director, officer, employee, or agent, whether or not the corporation would have power to indemnify him against the same liability under Section 33-8-510 or 33-8-520.

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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 him in that capacity or arising from his status as a director, officer, employee, or agent, whether or not the corporation would have power to indemnify him against the same liability under Section 33-8-510 or 33-8-520.

Legislative History

HISTORY: Derived from 1976 Code SECTION 33-13-180 [1962 Code SECTION 12-18.18; 1962 (52) 1996; 1973 (58) 381; 1981 Act No. 146, SECTION 2; Repealed, 1988 Act No. 444, SECTION 2], and SECTION 33-13-190 [1962 Code SECTION 12-18.19; 1962 (52) 1996; 1981 Act No. 146, SECTION 2; Repealed, 1988 Act No. 444, SECTION 2]; 1988 Act No. 444, SECTION 2.