271B.8-570 Insurance.
A corporation may purchase and maintain insurance on behalf of an individual who is or <br>was a director, officer, employee, or agent of the corporation, or who, while a director, <br>officer, employee or agent of the corporation, is or was serving at the request of the <br>corporation as a director, officer, manager, partner, trustee, employee, or agent of another <br>entity, or of an employee benefit plan or other enterprise, against liability asserted against <br>or incurred in that capacity or arising from the status as a director, officer, manager, <br>employee, or agent, whether or not the corporation would have power to indemnify <br>against the same liability under KRS 271B.8-510 or 271B.8-520.
Effective: July 15, 2010 <br>History: Repealed and reenacted 2010 Ky. Acts ch. 51, sec. 66, effective July 15, 2010.
-- Amended 2007 Ky. Acts ch. 137, sec. 66, effective June 26, 2007. -- Created 1988 <br>Ky. Acts ch. 23, sec. 101, effective January 1, 1989.
Legislative Research Commission Note (7/15/2010). 2010 Ky. Acts ch. 51, sec. 183,
provides, "The specific textual provisions of Sections 1 to 178 of this Act which <br>reflect amendments made to those sections by 2007 Ky. Acts ch. 137 shall be deemed <br>effective as of June 26, 2007, and those provisions are hereby made expressly <br>retroactive to that date, with the remainder of the text of those sections being <br>unaffected by the provisions of this section."
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