Section 1057

Section 1057. Securing of Indemnification Obligations. -- To further effect, satisfy or secure the indemnification obligations provided in this chapter or otherwise, the Association may maintain insurance, obtain a letter of credit, act as self-insurer, create a reserve, trust, escrow, cash collateral or other fund or account, or use any other mechanism or arrangement whatsoever in such amounts, at such costs, and upon such other terms and conditions as the House of Delegates shall deem appropriate. Absent fraud, the determination of the House with respect to such amounts, costs, terms and conditions shall be conclusive and shall not be subject to voidability.

 

 

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Phone: 800-932-0311

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