Chapter 54: MAINE INDIVIDUAL REINSURANCE ASSOCIATION
§3904. Liability and indemnification
1.Liability. The board and its employees may not be held liable for any obligations of the association. A cause of action may not arise
against the association; the board, its agents or its employees; any insurer belonging to the association or its agents, employees
or producers; or the superintendent for any action or omission in good faith in the performance of powers and duties pursuant
to this chapter.
[
2007, c. 629, Pt. A, §8 (NEW)
.]
2.Indemnification. The board in its bylaws or rules may provide for indemnification of, and legal representation for, its members and employees.
[
2007, c. 629, Pt. A, §8 (NEW)
.]
SECTION HISTORY
2007, c. 629, Pt. A, §8 (NEW).
Data for this page extracted on 11/09/2009 11:20:25.