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Alaska Statutes (Last Updated: January 11, 2017) |
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Title 42. PUBLIC UTILITIES AND CARRIERS AND ENERGY PROGRAMS. |
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Chapter 42.40. ALASKA RAILROAD CORPORATION. |
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Article 42.40.04. POWERS AND DUTIES. |
Section 42.40.310. Indemnification.
Latest version.
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(a) The corporation may defend and indemnify a current or former member of the board, employee, or agent of the corporation against all costs, expenses, judgments, and liabilities, including attorney's fees, incurred by or imposed upon that person in connection with a civil or criminal action in which the person is involved by affiliation with the corporation, if the person acted in good faith on behalf of the corporation and within the scope of official duties or powers.
(b) The corporation may purchase insurance to protect and hold personally harmless its employees, agents, and board members from an action, claim, or proceeding arising out of the performance, purported performance, or failure of performance, in good faith, of duties for, or employment with, the corporation and to hold them harmless from expenses connected with the defense, settlement, or monetary judgments from that action, claim, or proceeding. The purchase of insurance is discretionary with the board and insurance is not considered to be compensation to the insured person.