Section 20B Indemnification - Massachusetts Statutes

Section 20B. Indemnification.—In any civil action brought against a member, employee or the investment committee of the state retirement board, the teachers’ retirement board, or any member or employee of the pension reserves investment management board the defense or settlement of which is made by the attorney general or by an attorney employed by said board, such member, committeeman or employee shall be indemnified for all expenses incurred in the defense thereof and shall be indemnified for damages to the same extent as provided for public employees in chapter two hundred and fifty-eight; provided, however, that the claim arose out of acts performed by such member, committeeman or employee while acting within the scope of his official duties; and provided, further, that no member, committeeman or employee shall be indemnified for expenses in an action or damages awarded in such action, in which there is shown to be a breach of fiduciary duty, an act of willful dishonesty or an intentional violation of law by such member, committeeman or employee.