29 U.S.C. § 1110 - U.S. Code - Unannotated Title 29. Labor § 1110. Exculpatory provisions;  insurance

(a)  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.

(b)  Nothing in this subpart   1 shall preclude--

(1)  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;

(2)  a fiduciary from purchasing insurance to cover liability under this part from and for his own account;  or

(3)  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.

1 So in original.  This part does not contain subparts.

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