KRS 286.6-545: Insurance for credit union officials.

A credit union may purchase and maintain insurance on behalf of any person who is or

was a director, officer, employee, or agent of the credit union, or who is or was serving at

the request of the credit union as a director, officer, employee, or agent of another

corporation, partnership, joint venture, trust or other enterprise against any liability

asserted against the person and incurred by the person in his official capacity or arising

out of the person's status as such, whether or not the credit union would have the power to

indemnify the person against the liability.