Section 45-49A-63.130 – Limitation of Liability.
Section 45-49A-63.130 Limitation of liability. The city, the board, the members of the board, and any officer, employee, or agent of the city shall not incur any liability individually or on behalf of any other individuals or on behalf of the city for any act, or failure to act, made in good faith in relation […]
Section 45-49A-63.131 – Indemnification.
Section 45-49A-63.131 Indemnification. The members of the board and the officers, employees, and agents of the city shall be indemnified against any and all liabilities arising by reason of any act, or failure to act, in relation to the plan or the fund including, without limitation, expenses reasonably incurred in the defense of any claim […]
Section 45-49A-63.132 – City Attorney to Represent Board.
Section 45-49A-63.132 City attorney to represent board. It shall be the duty of the city attorney to give advice to the board in all matters pertaining to the duties of the board whenever requested to do so; to represent and defend the board and its individual members in all suits and actions at law or […]
Section 45-49A-63.133 – Expenses of Administration.
Section 45-49A-63.133 Expenses of administration. Except as may be otherwise specified in this plan, all expenses that arise in connection with the administration of the plan including, but not limited to, the compensation and other expenses and charges of any counsel, accountant, specialist, or other person who has been retained by the board in connection […]
Section 45-49A-63.134 – Deferred Retirement Option Plan.
Section 45-49A-63.134 Deferred retirement option plan. The board may create and administer a deferred retirement option plan (DROP Plan) on such terms and conditions as the board may prescribe; however, any DROP Plan created by the board shall be at no cost and with no liability to the city. The plan’s actuary shall certify to […]