Minnesota Session Laws - 1985, Regular Session

  

                         Laws of Minnesota 1985 

                        CHAPTER 56-H.F.No. 1254 
           An act relating to local government; permitting 
          insurance and indemnification of certain municipal 
          electric power personnel; correcting a statutory cross 
          reference; amending Minnesota Statutes 1984, section 
          453.55, subdivision 11. 
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
    Section 1.  Minnesota Statutes 1984, section 453.55, 
subdivision 11, is amended to read: 
    Subd. 11.  Neither the officials, the directors, nor the 
members of a municipal power agency nor any person executing 
bonds or notes shall be liable personally on the bonds or notes 
or be subject to any personal liability or accountability by 
reason of the issuance thereof.  A municipal power agency shall 
have power to indemnify and to purchase and maintain insurance 
on behalf of any director, officer, employee, or agent of the 
municipal power agency, in connection with any threatened, 
pending, or completed action, suit, or proceeding, to the same 
extent and in the same manner and with the same force and effect 
as provided in the case of a private corporation under the 
provisions of section 300.082 300.083. 
    Approved May 1, 1985