Sec. 33-1123. Insurance.
Sec. 33-1123. Insurance. A corporation may purchase and maintain insurance on
behalf of an individual who is a director, officer, employee or agent of the corporation,
or who, while a director, officer, employee or agent of the corporation, serves at the
corporation's request as a director, officer, partner, trustee, employee or agent of another
domestic or foreign corporation, 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, officer, employee or agent, whether or not the
corporation would have power to indemnify or advance expenses to him against the
same liability under sections 33-1116 to 33-1125, inclusive.
(P.A. 96-256, S. 91, 209; P.A. 97-246, S. 61, 99.)
History: P.A. 96-256 effective January 1, 1997; P.A. 97-246 revised and rephrased section, including adding reference
to the corporation's power to advance expenses to an individual and replacing the reference to "section 33-1117 or 33-1118" with "sections 33-1116 to 33-1125, inclusive," effective June 27, 1997.