A corporation shall indemnify and hold harmless any director, officer, agent, or employee against any liability or loss arising from the carrying out of the powers set forth in this Chapter other than liability of loss resulting from his own acts of gross negligence or willful misconduct.
La. R.S. 47:8026
Indemnity of directors, officers, agents and employees
Known as the Tax Increment Development Act
The act spans §§ 47–47 (37 sections).
Acts 1988, No. 996, §1.
Official source: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.