§ 13.1-703. Insurance
A corporation may purchase and maintain insurance on behalf of an individual who is or was a director or officer of the corporation, or who, while a director or officer of the corporation, is or was serving at the request of the corporation as a director, officer, partner, trustee, employee or agent of another foreign or domestic corporation, limited liability company, partnership, joint venture, trust, employee benefit plan, or other entity, against liability asserted against or incurred by him in that capacity or arising from his status as a director or officer, whether or not the corporation would have power to indemnify him against the same liability under § 13.1-697 or 13.1-698.
(Code 1950, § 13.1-3.1; 1968, c. 570; 1975, c. 500; 1979, c. 99; 1985, c. 522; 2005, c. 765.)
Sections: Previous 13.1-697 13.1-698 13.1-699 13.1-700 13.1-700.1 13.1-701 13.1-702 13.1-703 13.1-704 13.1-705 13.1-706 13.1-707 13.1-708 13.1-709 13.1-710 NextLast modified: April 16, 2009