Connecticut Articles of Incorporation with Indemnification
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How to fill out Articles Of Incorporation With Indemnification?
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FAQ
Indemnification & Volunteer Protection ? Most nonprofit bylaws include indemnification provisions ? language that expresses the intent of the nonprofit to cover the expenses a board member might incur in defending an action and paying settlements or judgments related to his service on the board.
Municipalities § 7-465. Assumption of liability for damage caused by employee of municipality or member of local emergency planning district. Joint liability of municipalities in district department of health or regional council of governments.
Notwithstanding any provision of this chapter, an action for indemnification may be brought within three years from the date of the determination of the action against the party which is seeking indemnification by either judgment or settlement.
Statute of Repose Statutes of limitations are generally laws that apply to all types of injuries and limit the time period you are able to bring suit after the date of your injury. In Connecticut, you have three years to commence suit from the date of your injury on product liability claims.
Connecticut nonstock corporations are required to indemnify directors, officers and agents under certain circumstances. "Indemnification" means that the organization must "pay back" the individual for damages and expenses relating to a claim that arises from conduct in the course of his/her duty for the organization.
In Connecticut, there is a five-year time limit for the filing of crimes that carry a punishment of imprisonment for more than one year. Most other crimes, with some notable exceptions, have a one-year deadline. Murder and other Class A felonies, meanwhile, have no statute of limitations.
This mandatory indemnification. includes the payment of reasonable expenses. and attorneys' fees incurred in connection. with the lawsuit. Directors and officers are entitled to enforce their right to mandatory indemnification in court.
?Where one who has committed no actual wrong is held vicariously liable for the wrongdoing of another, he has a right to indemnification from the actual wrongdoer.? Id.