Ind. Code § 23-17-16-14

Current through P.L. 171-2024

Section 23-17-16-14 - Purchase of insurance

A corporation may purchase and maintain insurance on behalf of an individual who is or was:

(1) a director;

(2) an officer;

(3) an employee or agent of the corporation; or

(4) while a director, an officer, an employee, or an agent of the corporation, is or was serving at the request of the corporation as a director, an officer, a member, a manager, a partner, a trustee, an employee, or an agent of another foreign or domestic corporation, limited liability company, partnership, joint venture, trust, employee benefit plan, or other enterprise;

against liability asserted against or incurred by the individual in that capacity or arising from the individual's status as a director, an officer, an employee, or an agent, whether or not the corporation would have power to indemnify the individual against the same liability under section 8 or 9 of this chapter.

IC 23-17-16-14

As added by P.L. 179-1991, SEC.1. Amended by P.L. 8-1993, SEC.334.