Indiana Articles of Incorporation with Indemnification
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How to fill out Articles Of Incorporation With Indemnification?
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FAQ
An anti-indemnity statute is a law defining how much risk can be transferred between parties in a contract and is oftentimes used in construction contracts. An anti-indemnity statute protects sub-contractors from risks they take on from a primary contractor.
While one party may not have been 100% ?at fault? or ?solely negligent? for an injury, if the claim arose out of one of these ?nondelegable duties?, Indiana's Anti-Indemnity Statute would void any indemnity agreement that attempted to shift that burden onto another party.
Indiana Code §26-2-5-1 provides that any provision in a construction or design contract which purports to indemnify the indemnitee against liability for (1) death or bodily injury to persons; (2) injury to property; or (3) design defects; from the sole negligence or willful misconduct of the promise, is against public ...
Under Indiana law, ?[a]n indemnity agreement involves a promise by one party (the indemnitor) to reimburse another party (the indemnitee) for the indemnitee's loss, damage, or liability.?[1] Despite this relatively simple definition, indemnification provisions in contracts are often referred to as ?gotcha? provisions, ...
Section 26-2-5-1 - "Construction or design contract"; indemnity agreements against public policy as void and unenforceable; exceptions (a) As used in this section, "construction or design contract" includes a design-build contract under which all of the following for the same project are included: (1) Architectural, ...