Texas § CP.104.009 - DIRECTORS' AND OFFICERS' LIABILITY INSURANCE

§ CP.104.009. DIRECTORS' AND OFFICERS' LIABILITY INSURANCE

DIRECTORS' AND OFFICERS' LIABILITY INSURANCE. (a) A state agency, institution, or department may purchase a directors' and officers' liability insurance policy applicable to damages for conduct described under Section 104.002 and other conduct customarily covered under directors' and officers' liability insurance policies for the benefit of: (1) a director or officer of the agency, institution, or department; (2) a member of a governing board, commission, or council of the agency, institution, or department; or (3) a member of the executive staff of the agency, institution, or department. (b) An insurance policy purchased under this section must have a deductible applicable to the liability of the state agency, institution, or department in an amount equal to the amount of the limits of liability established under Section 104.003 . The deductible applicable to an individual's liability may be set at a lower amount. (c) The purchase of an insurance policy under this section does not waive a defense, immunity, or jurisdictional bar available to the state agency, institution, or department purchasing the insurance or to the insured. Added by Acts 1997, 75th Leg., ch. 468, Sec. 1, eff. May 30, 1997.