Louisiana Revised Statutes 47:8026 – Indemnity of directors, officers, agents and employees
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Terms Used In Louisiana Revised Statutes 47:8026
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
A corporation shall indemnify and hold harmless any director, officer, agent, or employee against any liability or loss arising from the carrying out of the powers set forth in this Chapter other than liability of loss resulting from his own acts of gross negligence or willful misconduct.
Acts 1988, No. 996, §1.