A corporation may purchase and maintain insurance on behalf of an individual who is or was:(1) a director;(2) an officer;(3) an employee or agent of the corporation; or(4) while a director, an officer, an employee, or an agent of the corporation, is or was serving at the request of the corporation as a director, an officer, a member, a manager, a partner, a trustee, an employee, or an agent of another foreign or domestic corporation, limited liability company, partnership, joint venture, trust, employee benefit plan, or other enterprise;against liability asserted against or incurred by the individual in that capacity or arising from the individual's status as a director, an officer, an employee, or an agent, whether or not the corporation would have power to indemnify the individual against the same liability under section 8 or 9 of this chapter.As added by P.L.179-1991, SEC.1. Amended by P.L.8-1993, SEC.334.
Indiana Legal Code