Indiana Code 5-10.2-11-25. Immunity; indemnification of the fund and its agents
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Sec. 25. (a) Both:
(2) the system and the board members, executive director, officers, agents, and employees of the system;
(1) the state and officers, agents, and employees of the state; and
Terms Used In Indiana Code 5-10.2-11-25
- Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
- board: refers to the board of trustees of the Indiana public retirement system established by Indiana Code 5-10.2-11-2
- fund: refers to the following:
Indiana Code 5-10.2-11-7
- 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
- system: refers to the Indiana public retirement system established by Indiana Code 5-10.2-11-11
are immune from civil liability for any act or omission related to the removal of an asset from a fund under this chapter.
(b) In addition to the immunity provided under subsection (a), both:
(1) the officers, agents, and employees of the state; and
(2) the board members, executive director, officers, agents, and employees of the system;
are entitled to indemnification from the system for all losses, costs, and expenses, including reasonable attorney‘s fees, associated with defending against any claim or suit relating to an act authorized under this chapter.
As added by P.L.177-2016, SEC.1.