48-2c-1808 - Insurance. - Utah Statutes

48-2c-1808. Insurance.
A company may purchase and maintain liability insurance on behalf of a person who is orwas a manager, member, employee, fiduciary, or agent of the company, or who, while serving asa manager, member, employee, fiduciary, or agent of the company, is or was serving at therequest of the company as a manager, member, director, officer, partner, trustee, employee,fiduciary, or agent of another foreign or domestic limited liability company or other person, or ofan employee benefit plan, against liability asserted against or incurred by him in that capacity orarising from his status as a manager, member, employee, fiduciary, or agent, whether or not thecompany would have power to indemnify him against the same liability under Sections48-2c-1802, 48-2c-1803, and 48-2c-1807. Insurance may be procured from any insurancecompany designated by the company, whether the insurance company is formed under the laws ofthis state or any other jurisdiction of the United States or elsewhere, including any insurancecompany in which the company has an equity or any other interest through stock ownership orotherwise.

Enacted by Chapter 260, 2001 General Session