FEDERAL · 29 U.S.C. · Chapter SUBCHAPTER I—PROTECTION OF EMPLOYEE BENEFIT RIGHTS

Exculpatory provisions; insurance

29 U.S.C. § 1110
Title29Labor
SubtitleB
ChapterSUBCHAPTER I—PROTECTION OF EMPLOYEE BENEFIT RIGHTS
Partpart 4—fiduciary responsibility

This text of 29 U.S.C. § 1110 (Exculpatory provisions; insurance) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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29 U.S.C. § 1110.

Text

(a)Except as provided in sections 1105(b)(1) and 1105(d) of this title, any provision in an agreement or instrument which purports to relieve a fiduciary from responsibility or liability for any responsibility, obligation, or duty under this part shall be void as against public policy.
(b)Nothing in this subpart 1 shall preclude—
(1)a plan from purchasing insurance for its fiduciaries or for itself to cover liability or losses occurring by reason of the act or omission of a fiduciary, if such insurance permits recourse by the insurer against the fiduciary in the case of a breach of a fiduciary obligation by such fiduciary;
(2)a fiduciary from purchasing insurance to cover liability under this part from and for his own account; or
(3)an employer or an employee organization from purchas

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History

(Pub. L. 93–406, title I, §410, Sept. 2, 1974, 88 Stat. 886.)

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29 U.S.C. § 1110, Counsel Stack Legal Research, https://law.counselstack.com/usc/29/1110.