Ohio Approval of Indemnification Agreements with article amendment and amendment to bylaws
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How to fill out Approval Of Indemnification Agreements With Article Amendment And Amendment To Bylaws?
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SeeC. §153.81(A)(1)(b). Indemnification is limited to claims, damages, or loss, including reasonable attorney fees, costs, and expenses. Ohio follows the American Rule, which states that parties to litigation are to pay for their own attorneys' fees unless there is a specific exception to the rule that applies.
In Ohio, you must have at least three directors on your board.
Your Ohio nonprofit needs bylaws to keep it from being governed by Ohio statutes and laws you may not want. It is correct that you don't have to file your nonprofit bylaws with the Ohio Secretary of State like your Ohio Nonprofit Articles of Incorporation.
(D) In addition to or in lieu of adopting an amendment to the articles, the voting members may adopt amended articles by the same action or vote as that required to adopt the amendment.
(E)(1) A corporation may indemnify or agree to indemnify any person who was or is a party, or is threatened to be made a party, to any threatened, pending, or completed civil, criminal, administrative, or investigative action, suit, or proceeding, other than an action by or in the right of the corporation, by reason of ...
The termination of any action, suit, or proceeding by judgment, order, settlement, or conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner the person reasonably believed to be in or not opposed to the best ...