Marginal note:Directors’ and officers’ insurance
213 A bank may purchase and maintain insurance for the benefit of any person referred to in section 212 against any liability incurred by the person
(a) in the capacity of a director or an officer of the bank, except where the liability relates to a failure to act honestly and in good faith with a view to the best interests of the bank; or
(b) in the capacity of a director or an officer of another entity where the person acts or acted in that capacity at the bank’s request, except where the liability relates to a failure to act honestly and in good faith with a view to the best interests of the entity.
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