Code · BILL · 118th Congress · S. 3102 (Introduced in Senate) — To establish the American Worker Retirement Plan, improve the financial security of working Americans by facilitating... · Sec. 209

Sec. 209. Exculpatory provisions; insurance

104 words·~1 min read·/bill/118/s/3102/is/section-209

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Any provision in an agreement or instrument which purports to relieve a fiduciary from responsibility or liability for any responsibility, obligation, or duty under this title shall be void. In accordance with section 101(e), the sums credited to the Fund shall be available to pay administrative expenses which may include, at the discretion of the Executive Director, the purchase of insurance to cover potential liability of persons who serve in a fiduciary capacity with respect to the Fund, without regard to whether a policy of insurance permits recourse by the insurer against the fiduciary in the case of a breach of a fiduciary obligation.