Sec. 9. (a) The
commission shall purchase
liability insurance for, or otherwise indemnify, its members against personal liability for acts and omissions arising out of their performance, in good faith, of their duties as members of the commission.
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Terms Used In Indiana Code 27-1-29-9
- commission: refers to the Indiana political subdivision risk management commission established by this chapter. See Indiana Code 27-1-29-1
- Insurance: means a contract of insurance or an agreement by which one (1) party, for a consideration, promises to pay money or its equivalent or to do an act valuable to the insured upon the destruction, loss or injury of something in which the other party has a pecuniary interest, or in consideration of a price paid, adequate to the risk, becomes security to the other against loss by certain specified risks; to grant indemnity or security against loss for a consideration. See Indiana Code 27-1-2-3
- liability: means an obligation arising from a claim for the payment of money in an amount established under IC 34-13-3 (or Indiana Code 27-1-29-3
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
As added by P.L.162-1986, SEC.1.
