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Power to purchase insurance - 15 Pa. Cons. Stat. § 5747

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     § 5747.  Power to purchase insurance.
        Unless otherwise restricted in its bylaws, a nonprofit
     corporation shall have power to purchase and maintain insurance
     on behalf of any person who is or was a representative of the
     corporation or is or was serving at the request of the
     corporation as a representative of another domestic or foreign
     corporation for profit or not-for-profit, partnership, joint
     venture, trust or other enterprise against any liability
     asserted against him and incurred by him in any such capacity,
     or arising out of his status as such, whether or not the
     corporation would have the power to indemnify him against that
     liability under the provisions of this subchapter. Such
     insurance is declared to be consistent with the public policy of
     this Commonwealth.
     (Dec. 19, 1990, P.L.834, No.198, eff. imd.)

        1990 Amendment.  Act 198 reenacted and amended the entire
     section.

Last modified: November 27, 2007