Insurance.

A corporation may purchase and maintain insurance on behalf of an individual who is a director or officer of the corporation, or who, while a director or officer of the corporation, serves at the corporation’s request as a director, officer, partner, trustee, employee, or agent of another domestic or foreign corporation, or a joint venture, trust, employee benefit plan, or other entity, against liability asserted against or incurred by the individual in that capacity or arising from the individual’s status as a director or officer, regardless of whether the corporation would have power to indemnify or advance expenses to the individual against the same liability under this part . 89 Acts, ch 288, §105 ; 2002 Acts, ch 1154, §51, 125 ; 2021 Acts, ch 165, §117, 230 Referred to in §491.3 , 491.16 , 497.34 , 498.36 , 499.59A , 508C.16 , 524.801