Alaska Statutes 44.81.061 – Indemnification of directors, officers, and employees
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Terms Used In Alaska Statutes 44.81.061
- Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
The bank may indemnify directors, officers, and employees, or may purchase and maintain insurance on behalf of directors, officers, and employees. The indemnification and the insurance purchase and maintenance shall comply with Alaska Stat. § 10.06.490.