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29 U.S.C. § 1110 Exculpatory Provisions; Insurance
Library | United States Statutes |
Edition | 2023 |
Currency | Current through P.L. 118-30 (published on www.congress.gov on 12/21/2023) |
Year | 2023 |
Citation | 29 U.S.C. § 1110 |
(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;
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