Section 11-109-603 - No indemnification or insurance against civil money penalties

Notwithstanding any other provision of law, no trust company shall indemnify or insure any executive officer, director, employee, agent, or person participating in the conduct of affairs of such trust company against civil money penalties.L. 2003: Entire article added with relocations, p. 1194, § 3, effective July 1.This section is similar to former § 11-23-119.2 as it existed prior to 2003.