ICANN Resolutions » 1998-10-25 - INSURANCE
Important note: The Board Resolutions are as reported in the Board Meeting Transcripts, Minutes & Resolutions portion of ICANN's website. Only the words contained in the Resolutions themselves represent the official acts of the Board. The explanatory text provided through this database (including the summary, implementation actions, identification of related resolutions, and additional information) is an interpretation or an explanation that has no official authority and does not represent the purpose behind the Board actions, nor does any explanations or interpretations modify or override the Resolutions themselves. Resolutions can only be modified through further act of the ICANN Board.
Authorized purchase of insurance.
RESOLVED, that each of the officers of the Corporation be, and they hereby are, authorized to investigate, purchase (unless the cost of the insurance exceeds $60,000 in which case such expenditure shall be approved by the Board or the Interim Executive Committee) and maintain insurance on behalf of any director, officer or agent of the Corporation against any liability asserted against or incurred by the agent in such capacity or arising out of the agent's status as such whether or not the Corporation would have the power to indemnify the agent against such liability under the provisions of the California Nonprofit Public Benefit Corporation Law.