A credit union may purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the credit union, or who is or was serving at the request of the credit union as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against such person and incurred by such person in any such capacity or arising out of such person’s status as such, whether or not the credit union would have the power to indemnify such person against such liability. [1975 c.652 §61]
Section: Previous 723.530 723.532 723.536 723.540 723.550 723.560 723.572 723.576 723.582 723.586 723.602 723.631 723.632 723.636 723.642 NextLast modified: August 7, 2008