2006 Code of Virginia § 13.1-882 - Insurance

13.1-882. Insurance.

A corporation may purchase and maintain insurance on behalf of an individualwho is or was a director, officer, employee or agent of the corporation, oris or was serving at the request of the corporation as a director, officer,partner, trustee, employee or agent of another foreign or domesticcorporation, partnership, joint venture, trust, employee benefit plan orother enterprise, against liability asserted against or incurred by him inthat capacity or arising out of his status as a director, officer, employeeor agent, whether or not the corporation would have power to indemnify himagainst the same liability under 13.1-876 or 13.1-877.

(Code 1950, 13.1-205.1; 1968, c. 689; 1975, c. 500; 1981, c. 57; 1985, c.522.)