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7.1416 Indemnification

Cite as [A.S.C.A. § 7.1416 ]

The Fund shall save harmless, indemnify and defend all Trustees of the Board, officers, employees and attorneys of the fund from financial loss arising out of any claim, demand, suit or judgment by reason of alleged negligence or other act by such trustee, officer, employee, or attorney provided that such trustee, officer, employee, or attorney at the time of such alleged negligence or act was acting in good faith, with prudence and due diligence in the discharge of that person’s duties and within the scope of his employment, and that such damages did not result from the willful and wrongful act or gross negligence of such trustee, officer, employee or attorney.

History: 1996, PL 24-12.