A corporation may purchase and maintain insurance on behalf of an individual who is or was a director, officer, employee, or agent of the corporation, or who, while a director, officer, employee, or agent of the corporation, is or was serving at the request of the corporation as a director, officer, partner, trustee, employee, or agent of another foreign or domestic corporation, partnership, joint venture, trust, employee benefit plan, or other enterprise, against liability asserted against or incurred by the individual in that capacity or arising from the individual's status as a director, officer, employee, or agent, whether or not the corporation would have power to indemnify the individual against the same liability under RCW 23B.08.510 or 23B.08.520.
RCW 23B.08.580
Insurance.
Applied in 1 court decision — leading case 58 Wash. App. 896 - Washington Hospital Liability Insurance Fund v. Public Hospital District No. 1 (1990)
Most recently applied in 58 Wash. App. 896 - Washington Hospital Liability Insurance Fund v. Public Hospital District No. 1 (August 1990)
1989 c 165 s 113.
Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.