Sec. 5. (a) Every corporation shall make provision for adequate fidelity coverage for all officers and employees having access to money or bonds of the corporation. The amount and form of fidelity coverage must be approved annually by the board of directors of the corporation. Coverage may be provided: (1) in the form of a blanket fidelity bond issued by a corporate surety authorized to transact business in Indiana; or (2) through the establishment of a separate reserve fund within the corporation for that purpose. (b) If the corporation is a corporate fiduciary (as defined in IC 28-1-1-3 ), the corporation shall make provision for adequate fiduciary errors and omissions insurance coverage. IC 28-13-13 Chapter 13. Indemnification of Directors 28-13-13-1 "Corporation" defined 28-13-13-2 "Director" defined; scope of term 28-13-13-3 "Expenses" defined 28-13-13-4 "Liability" defined 28-13-13-5 "Official capacity" defined; scope of term 28-13-13-6 "Party" defined 28-13-13-7 "Proceeding" defined 28-13-13-8 Conditional indemnification of director against liability 28-13-13-9 Mandatory indemnification of director for expenses of successful defense of proceeding 28-13-13-10 Advancement of expenses before final disposition of proceeding; conditions; procedure 28-13-13-11 Court ordered indemnification; determination 28-13-13-12 Standards for conditional determinations and authorizations; procedure 28-13-13-13 Indemnification of corporate officers and employees other than directors 28-13-13-14 Liability insurance purchased and maintained by corporation 28-13-13-15 Limitation of remedies; effect of chapter
‹ Prev All Indiana sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.