The Virginia Amendment of Articles to Expand Indemnification of Agents is a legal provision that aims to enhance the protection of agents in various industries by broadening the scope of indemnification. This amendment is crucial to safeguard the interests of agents who work diligently to represent and carry out the business affairs of their clients or organizations. By offering expanded indemnification, the Virginia Amendment aims to ensure that agents can carry out their duties without fear of personal liability or financial burden. Under this amendment, agents are granted additional protection against potential legal or financial risks that may arise from their actions or decisions made in good faith during their course of duty. It provides a clear framework for indemnification, offering agents the reassurance that they will be covered for legal expenses, damages, settlements, or even liabilities arising from lawsuits brought against them. Some relevant keywords related to the Virginia Amendment of Articles to Expand Indemnification of Agents include: 1. Indemnification: The act of compensating or providing security against potential losses or damages incurred by agents due to their actions or decisions. 2. Agents: Individuals authorized to act on behalf of others or organizations, representing their interests and carrying out various tasks within the scope of their authority. 3. Liability: Legal responsibility or obligation to address any financial or legal consequences resulting from actions or decisions made by agents during their course of duty. 4. Legal Protection: Safeguards or measures offered by the Virginia Amendment to protect agents from potential legal risks or liabilities. 5. Good Faith: The genuine intention of agents to act honestly and in the best interest of their clients or organizations. 6. Financial Burden: The potential financial strain agents may face if they are personally liable for damages or legal expenses resulting from their actions. 7. Lawsuits: Legal actions initiated against agents, alleging wrongdoing, negligence, or violation of legal duties. 8. Legal Expenses: Costs associated with legal representation, court fees, expert witness fees, or any other expenses incurred during legal proceedings. 9. Damages: Financial losses or harm suffered by individuals or organizations as a result of the actions or decisions made by agents. 10. Settlements: Agreements reached between parties involved in a legal dispute, often involving compensation or resolution without going through a trial. Overall, the Virginia Amendment of Articles to Expand Indemnification of Agents is a vital provision that strengthens the legal protection and security of agents, enabling them to fulfill their duties effectively without undue personal risk.
Virginia Amendment of Articles to Expand Indemnification of Agents
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The sole duty of the registered agent is to forward to the limited liability company or foreign limited liability company at its last known address any process, notice, or demand that is served on the registered agent. § 13.1-1015. Registered office and registered agent - Virginia Law virginia.gov ? chapter12 ? section13.1-1015 virginia.gov ? chapter12 ? section13.1-1015
Limited indemnification clauses require the Indemnitor to indemnify the Indemnitee only to the extent the Indemnitee's injuries and losses were caused by the Indemnitor. Many states have adopted statutes limiting the enforceability of indemnification clauses.
Amendment of articles of organization. A. A limited liability company may amend its articles of organization at any time to add or change a provision that is required or permitted in the articles, or to delete a provision not required in the articles.
That a well regulated militia, composed of the body of the people, trained to arms, is the proper, natural, and safe defense of a free state, therefore, the right of the people to keep and bear arms shall not be infringed; that standing armies, in time of peace, should be avoided as dangerous to liberty; and that in ... Virginia Constitution Article I Section 13 - Virginia Law virginia.gov ? constitution ? section13 virginia.gov ? constitution ? section13
A membership interest in a limited liability company is personal property. The only transferable interest of a member in the limited liability company is the member's share of the profits and losses of the limited liability company and the member's right to receive distributions. § 13.1-1038. Nature of interest in limited liability company virginia.gov ? chapter12 ? section13.1-1038 virginia.gov ? chapter12 ? section13.1-1038
The registered agent may by instrument in writing, acknowledged before a notary public, designate a natural person or persons in the office of the registered agent upon whom any such process, notice or demand may be served. § 13.1-1018. Service on limited liability company - Virginia Law virginia.gov ? chapter12 ? section13.1-1018 virginia.gov ? chapter12 ? section13.1-1018
Virginia's anti-indemnity statute states, in relevant part: ?Any provision contained in any contract relating to the construction, alteration, repair or maintenance of a building ? by which the contractor performing such work purports to indemnify or hold harmless another party to the contract against liability for ...
Any corporation shall have power to make any further indemnity, including indemnity with respect to a proceeding by or in the right of the corporation, and to make additional provision for advances and reimbursement of expenses, to any director or officer that may be authorized by the articles of incorporation or any ...