2015 US Code
Title 29 - Labor (Sections 1 - 3361)
Chapter 18 - Employee Retirement Income Security Program (Sections 1001 - 1461)
Subchapter I - Protection of Employee Benefit Rights (Sections 1001 - 1191c)
Subtitle B - Regulatory Provisions (Sections 1021 - 1191c)
Part 4 - Fiduciary Responsibility (Sections 1101 - 1114)
Sec. 1110 - Exculpatory provisions; insurance
Publication Title | United States Code, 2012 Edition, Supplement 3, Title 29 - LABOR |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 29 - LABOR CHAPTER 18 - EMPLOYEE RETIREMENT INCOME SECURITY PROGRAM SUBCHAPTER I - PROTECTION OF EMPLOYEE BENEFIT RIGHTS Subtitle B - Regulatory Provisions part 4 - fiduciary responsibility Sec. 1110 - Exculpatory provisions; insurance |
Contains | section 1110 |
Date | 2015 |
Laws In Effect As Of Date | January 3, 2016 |
Positive Law | No |
Disposition | standard |
Source Credit | Pub. L. 93-406, title I, §410, Sept. 2, 1974, 88 Stat. 886. |
Statutes at Large Reference | 88 Stat. 886 |
Public and Private Law | Public Law 93-406 |
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(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 purchasing insurance to cover potential liability of one or more persons who serve in a fiduciary capacity with regard to an employee benefit plan.
(Pub. L. 93–406, title I, §410, Sept. 2, 1974, 88 Stat. 886.)
1 So in original. This part does not contain subparts.
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