A corporation may purchase 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 the 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 the individual against the same liability under this part.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)
Structure District of Columbia Code
Title 29 - Business Organizations. [Enacted title]
Chapter 3 - Business Corporations
Subchapter VI - Directors and Officers
Part E - Indemnification and Advance for Expenses
§ 29–306.51. Permissible indemnification
§ 29–306.52. Mandatory indemnification
§ 29–306.53. Advance for expenses
§ 29–306.54. Court-ordered indemnification and advance for expenses
§ 29–306.55. Determination and authorization of indemnification
§ 29–306.56. Indemnification of officers
§ 29–306.58. Variation by corporate action; application of part