Indemnification. — Alaska Code § 42.40.310
Alaska Code § 42.40.310 — Indemnification.. Reproduced from the official Alaska Statutes, with a citation summary, verification link, and related provisions.
§ 42.40.310. Indemnification.
(a) The corporation may defend and indemnify a current or former member of the board, employee, or agent of the corporation against all costs, expenses, judgments, and liabilities, including attorney's fees, incurred by or imposed upon that person in connection with a civil or criminal action in which the person is involved by affiliation with the corporation, if the person acted in good faith on behalf of the corporation and within the scope of official duties or powers.
(b) The corporation may purchase insurance to protect and hold personally harmless its employees, agents, and board members from an action, claim, or proceeding arising out of the performance, purported performance, or failure of performance, in good faith, of duties for, or employment with, the corporation and to hold them harmless from expenses connected with the defense, settlement, or monetary judgments from that action, claim, or proceeding. The purchase of insurance is discretionary with the board and insurance is not considered to be compensation to the insured person.
Article 5. Corporation Property.
Source: official Alaska text · Last verified 2026-08-27
At a glance
- Citation: Alaska Statutes § 42.40.310
- Jurisdiction: Alaska
- Code: Alaska Statutes
- Subject: Indemnification.
- Text: transcribed from the official source (verify below)
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Statute text is transcribed from the official Alaska Statutes. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Alaska attorney.
Common questions
What is the source of Alaska Statutes § 42.40.310?
The text above is transcribed from the Alaska Statutes, the codified statutes of Alaska. The official publisher link appears under "Verify the text" on this page.
What subject does Alaska Statutes § 42.40.310 address?
It addresses "Indemnification.". Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
Is Alaska Statutes § 42.40.310 still in force?
Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Alaska source before relying on this text.
Can this page be used as legal advice?
No. This is a reference transcription for research. Applying Alaska law to your facts requires a licensed Alaska attorney who can review the specifics.