Sec. 5. (a) An indemnification agreement, hold harmless agreement, or similar agreement or conveyance is not effective to transfer the liability imposed under section 4 of this chapter from:

(1) the owner or operator of a petroleum facility; or

Terms Used In Indiana Code 13-24-1-5

  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
(2) a person who may be liable for a release or threatened release under this chapter;

to another person. However, this subsection does not bar an agreement to insure, hold harmless, or indemnify a party to an agreement for any liability under this chapter.

     (b) This section does not bar a cause of action that:

(1) an owner or operator;

(2) a responsible party; or

(3) another person subject to liability under this chapter;

has or would have, by reason of subrogation or otherwise, against any person.

[Pre-1996 Recodification Citation: 13-7-20.1-10.]

As added by P.L.1-1996, SEC.14.

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