§ 17-16-857 — Insurance

A corporation may purchase and maintain insurance on behalf of
an individual who is a director or officer of the corporation,
or who, while a director or officer of the corporation, serves
at the corporation's request as a director, officer, partner,
trustee, employee or agent of another domestic or foreign
corporation, partnership, joint venture, trust, employee benefit
plan, or other entity, against liability asserted against or
incurred by the individual in that capacity or arising from his
status as a director or officer whether or not the corporation
would have power to indemnify or advance expenses to the
individual against the same liability under this subarticle.