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

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(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.

Cite this article: FindLaw.com - 29 U.S.C. § 1110 - U.S. Code - Unannotated Title 29. Labor § 1110. Exculpatory provisions;  insurance - last updated January 01, 2018 | https://codes.findlaw.com/us/title-29-labor/29-usc-sect-1110.html


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