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(a) 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 against liability asserted against, or incurred by him or her in their official capacity, or arising from his or her status as a director, officer, employee, or agent, whether or not the corporation would have power to indemnify that individual against the same liability under this Code.

(b) A corporation may purchase and maintain insurance on behalf of an individual 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, employee, agent, partner, or trustee of another foreign or domestic corporation, partnership, joint venture, trust, employee benefit plan, or other lawful business enterprise, whether or not the corporation would have power to indemnify that individual against the same liability under this Code. [Ord. 18 Part III § 19, adopted, 10/7/2008.]