29 U.S.C. § 1110 — Exculpatory provisions; insurance
submitted 52 years ago by Pub. L. 93-406 to r/title-29-LABOR · 156 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
Except as provided in sections 1105(b)(1) and 1105(d) of this title, any provision in an agreement or instrument which purports to relieve a fiduciary from responsibility or liability for any responsibility, obligation, or duty under this part shall be void as against public policy.
Nothing in this subpart 1 shall preclude—
a plan* from purchasing insurance for its fiduciaries or for itself to cover liability or losses occurring by reason of the act or omission of a fiduciary, if such insurance permits recourse by the insurer against the fiduciary in the case of a breach of a fiduciary obligation by such fiduciary;
a fiduciary from purchasing insurance to cover liability under this part from and for his own account; or
an employer* or an employee organization* from purchasing insurance to cover potential liability of one or more persons who serve in a fiduciary capacity with regard to an employee benefit plan*.
Source credit: (Pub. L. 93–406, title I, § 410, Sept. 2, 1974, 88 Stat. 886.)
- 1974Enacted · Pub. L. 93-406 · 88 Stat. 886
A history note hasn’t been published yet. The record shows enactment by Pub. L. 93-406 on 1974-09-02.
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