§412:10-701  Liability insurance forofficers.  A credit union may purchase and maintain insurance on behalf ofany person who is or was a director, officer, employee, or agent of the creditunion, or who is or was serving at the request of the credit union as adirector, officer, employee, or agent of another corporation, partnership,joint venture, trust or other enterprise against any liability asserted againstsuch person and incurred by such person in any such capacity or arising out ofsuch person's status as such, whether or not the credit union would have thepower to indemnify such person against such liability. [L 1993, c 350, pt of§1]