2010 Pennsylvania Code
Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
Chapter 17 - Officers, Directors and Shareholders
1746 - Supplementary coverage.

     § 1746.  Supplementary coverage.
        (a)  General rule.--The indemnification and advancement of
     expenses provided by, or granted pursuant to, the other sections
     of this subchapter shall not be deemed exclusive of any other
     rights to which a person seeking indemnification or advancement
     of expenses may be entitled under any bylaw, agreement, vote of
     shareholders or disinterested directors or otherwise, both as to
     action in his official capacity and as to action in another
     capacity while holding that office. Section 1728 (relating to
     interested directors or officers; quorum) and, in the case of a
     registered corporation, section 2538 (relating to approval of
     transactions with interested shareholders) shall be applicable
     to any bylaw, contract or transaction authorized by the
     directors under this section. A corporation may create a fund of
     any nature, which may, but need not be, under the control of a
     trustee, or otherwise secure or insure in any manner its
     indemnification obligations, whether arising under or pursuant
     to this section or otherwise.
        (b)  When indemnification is not to be made.--Indemnification
     pursuant to subsection (a) shall not be made in any case where
     the act or failure to act giving rise to the claim for
     indemnification is determined by a court to have constituted
     willful misconduct or recklessness. The articles may not provide
     for indemnification in the case of willful misconduct or
     recklessness.
        (c)  Grounds.--Indemnification pursuant to subsection (a)
     under any bylaw, agreement, vote of shareholders or directors or
     otherwise may be granted for any action taken and may be made
     whether or not the corporation would have the power to indemnify
     the person under any other provision of law except as provided
     in this section and whether or not the indemnified liability
     arises or arose from any threatened, pending or completed action
     by or in the right of the corporation. Such indemnification is
     declared to be consistent with the public policy of this
     Commonwealth.
        (d)  Cross references.--(Deleted by amendment).
     (Dec. 19, 1990, P.L.834, No.198, eff. imd.; Dec. 7, 1994,
     P.L.703, No.106, eff. 60 days)

        1994 Amendment.  Act 106 amended subsec. (c).
        1990 Amendment.  Act 198 amended subsecs. (a) and (b) and
     deleted subsec. (d).