490.857 - INSURANCE.
490.857 INSURANCE. A corporation may purchase and maintain insurance on behalf of an individual who is a director or officer of the corporation, or who, while a director or officer 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 that individual in that capacity or arising from the individual's status as a director or officer, whether or not the corporation would have power to indemnify or advance expenses to that individual against the same liability under this part.
Section History: Recent Form 89 Acts, ch 288, §105; 2002 Acts, ch 1154, §51, 125 Referred to in § 491.3, 491.16, 497.34, 498.36, 499.59A, 508C.16, 524.801, 534.605, 534.607