169.296. Indemnity and protection of trustee or employee, limitations--insurance--notice required, when. - Missouri Statutes

Indemnity and protection of trustee or employee,limitations--insurance--notice required, when.

169.296. 1. To the extent determined appropriate by theboard of trustees, the retirement system established undersections 169.270 to 169.400 may indemnify and protect any trusteeor employee of the retirement system against any or all claims orliabilities, including defense thereof, arising out of his or herresponsibilities with respect to the retirement system, provided,however, that no trustee or employee shall be indemnified for hisor her own gross negligence or willful misconduct. This sectionshall apply whether the claim is made against the employee ortrustee in his or her individual or official capacity.

2. The board of trustees is authorized to obtain andmaintain insurance and/or indemnity policies to insure thetrustees and employees of the retirement system against anyliability or losses incurred as a result of theirresponsibilities with respect to the retirement system.

3. No employee or trustee shall be entitled toindemnification under this section unless within fifteen daysafter receipt of service of process he or she shall give writtennotice of such proceeding to the board of trustees.

(L. 1994 S.B. 575)

Effective 5-26-94