Articles of Incorporation with Indemnification
Description
How to fill out Articles Of Incorporation With Indemnification?
When it comes to drafting a legal form, it is better to leave it to the specialists. However, that doesn't mean you yourself cannot get a sample to use. That doesn't mean you yourself can not find a sample to use, nevertheless. Download Articles of Incorporation with Indemnification straight from the US Legal Forms web site. It gives you a wide variety of professionally drafted and lawyer-approved forms and templates.
For full access to 85,000 legal and tax forms, users just have to sign up and select a subscription. Once you are registered with an account, log in, look for a certain document template, and save it to My Forms or download it to your device.
To make things less difficult, we’ve incorporated an 8-step how-to guide for finding and downloading Articles of Incorporation with Indemnification quickly:
- Make sure the document meets all the necessary state requirements.
- If possible preview it and read the description prior to buying it.
- Click Buy Now.
- Choose the appropriate subscription to meet your needs.
- Make your account.
- Pay via PayPal or by debit/credit card.
- Choose a needed format if several options are available (e.g., PDF or Word).
- Download the document.
Once the Articles of Incorporation with Indemnification is downloaded you are able to complete, print out and sign it in any editor or by hand. Get professionally drafted state-relevant papers in a matter of minutes in a preferable format with US Legal Forms!
Form popularity
FAQ
Indemnification provisions are generally enforceable. There are certain exceptions however. Indemnifications that require a party to indemnify another party for any claim irrespective of fault ('broad form' or 'no fault' indemnities) generally have been found to violate public policy.
Indemnification clauses are clauses in contracts that set out to protect one party from liability if a third-party or third entity is harmed in any way. It's a clause that contractually obligates one party to compensate another party for losses or damages that have occurred or could occur in the future.
Indemnity is defined by Black's Law Dictionary as a duty to make good any loss, damage, or liability incurred by another. Indemnity has a general meaning of holding one harmless; that is to say, that one party holds the other harmless for some loss or damage.
An indemnity clause is a promise by one party (the indemnifying party) to be responsible for and cover the loss of the other party (the indemnified party) in circumstances where it would be unfair for the indemnified party to bear the loss. In this way, an indemnity clause is a risk management tool.
What does "Corporate Indemnification" mean?In the context of business organizations, a limited liability company or corporation will often indemnify its officers and directors, covering their expenses (including legal fees) and judgment amounts incurred by such persons as a result of their service to the entity.
To indemnify someone is to absolve that person from responsibility for damage or loss arising from a transaction. Indemnification is the act of not being held liable for or being protected from harm, loss, or damages, by shifting the liability to another party.
A company can indemnify its directors against personal liability so long as the indemnity does not cover:other liabilities (such as legal costs) in criminal cases where the director is convicted, or in civil cases brought by the company where the final judgment goes against the director.
To indemnify means to compensate someone for his/her harm or loss. In most contracts, an indemnification clause serves to compensate a party for harm or loss arising in connection with the other party's actions or failure to act. The intent is to shift liability away from one party, and on to the indemnifying party.
Indemnification under Companies Act, 2013: While Section 201 of the erstwhile Companies Act, 1956 had restricted a company from indemnifying the directors of the company, the Companies Act, 2013 does not have any such restriction and therefore, directors can now be indemnified by companies against liabilities.