Ala. Code § 10A-3A-8.57: Insurance.
Where this section sits in the code
- Title 10A Alabama Business and Nonprofit Entities Code.
- Chapter 3A Alabama Nonprofit Corporation Law.
- Article 8 Directors and Officers.
- Division E Indemnification and Advancement of Expenses.
A nonprofit corporation may purchase and maintain insurance on behalf of an individual who is a director or officer of the nonprofit corporation, or who, while a director or officer of the nonprofit corporation, serves at the nonprofit corporation’s request as a director, officer, partner, trustee, employee, or agent of another corporation or foreign corporation or a 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, regardless of whether the nonprofit corporation would have power to indemnify or advance expenses to the individual against the same liability under this Division E of this Article 8.
Collected 2026-09-03T14:01:54Z. Source file · JSON