Utah Amendment of Articles to Expand Indemnification of Agents
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How to fill out Amendment Of Articles To Expand Indemnification Of Agents?
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FAQ
The statute of limitations for product liability claims in Utah is two years. This two-year period begins when you discover, or should have reasonably discovered, the injury and its cause.
The rule sets forth a presumption that, ?in making a business decision the directors of a corporation acted on an informed basis, in good faith, and in the honest belief that the action was in the best interest of the company.? In re Walt Disney Co.
Utah's anti-indemnification statute defines an ?indemnification provision? as an agreement between any combination of construction managers, general contractors, subcontractors, sub-subcontractors or suppliers (collectively, ?construction workers?) ?requiring the promisor to insure, hold harmless, indemnify, or defend ...
The Business Judgment Rule [1] Officers and directors must make decisions that they believe, in good faith, to be in the best interests of their companies and must make decisions after appropriate research and due diligence inquiries.
Under this standard, a court will uphold the decisions of a director as long as they are made (1) in good faith, (2) with the care that a reasonably prudent person would use, and (3) with the reasonable belief that the director is acting in the best interests of the corporation.
To make amendments to your Utah Corporation, you must provide the completed Articles of Amendment to Articles of Incorporation (Profit) form, with the processing fee, to the Division of Corporations & Commercial Code by mail, fax or in person. If faxing your amendments, include the Fax Cover Letter.
The business judgment rule protects companies from frivolous lawsuits by assuming that, unless proved otherwise, management is acting in the interests of the corporation and its stakeholders. The rule assumes that managers will not make optimal decisions all the time.
Most management actions are protected from judicial scrutiny by the business judgement rule: absent bad faith, fraud, or breach of a fiduciary duty, the judgement of the managers of a corporation is conclusive.