29-U.S.C.-1110

§1110 – Exculpatory Provisions; Insurance

Pathway

Title 29 > Chapter 18 > Subchapter I > Subtitle B > Part 4 > Section 1110

Details

• Reference: Section 1110
• Legend: §1110 – Exculpatory Provisions; Insurance
• USCode Year: 2013

Provision Content

(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  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;

(2) a fiduciary from purchasing insurance to cover liability under this part from and for his own account; or

(3) an employer or an employee organization from purchasing insurance to cover potential liability of one or more persons who serve in a fiduciary capacity with regard to an employee benefit plan.

(Pub. L. 93–406, title I, §410, Sept. 2, 1974, 88 Stat. 886.)

U.S. Encyclopedia of Law Coverage

29-U.S.C.-1108 in the Legal Encyclopedia: Labor

In this entry about 29-U.S.C.-1108, find legal reference material, bibliographies and premiere content related to labor in the American Encyclopedia of Law, presenting a comprehensive view of the United States labor-specific issues, written by authorities in the field.

Topic Map

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