                                 CODE OF VIRGINIA

INSURANCE (§ 13.1-882)

A corporation may purchase and maintain insurance on behalf of an individual who
is or was a director or officer of the corporation, or who, while a director or
officer 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, limited liability company, partnership, joint venture,
trust, employee benefit plan or other entity, against liability asserted against
or incurred by such person in that capacity or arising from his status as a
director or officer, whether or not the corporation would have power to
indemnify him against the same liability under § 13.1-876 or 13.1-877.

HISTORY: Code 1950, § 13.1-205.1; 1968, c. 689; 1975, c. 500; 1981, c. 57;
1985, c. 522; 2007, c. 925.