Section. 12.01, Authority to Indemnify. The Association may indemnify or obligate itself to indemnify an Officer or Director, or former Officer or Director, or a member or former member of any standing commission or committee, or other committee, work group, task force, or other entity created by the Board of Directors in the manner and to the extent permitted by Article 8, Part 5 of the Act, the provisions of which, as the same may be amended from time to time, are incorporated herein by this reference.
Section 12.02, Purchase of Insurance. The Association may purchase and maintain insurance on behalf of an individual who is or was a Director, Officer, employee, commission member, or agent of the Association, or who, while a Director, Officer, employee, or agent of the Association, is or was serving at the request of the Association as a director, officer, partner, trustee, employee, or agent of another foreign or domestic business or nonprofit corporation, partnership, joint venture, trust, employee benefit plan or other entity, against any liabilities asserted against or incurred by such person in that capacity, or arising from such person’s status as such, whether or not the Association would have the power to indemnify or advance expenses to such person against such liability under the Act.