Idaho Demand for Indemnity from a Limited Liability Company LLC by Member is a legal document that outlines the rights and responsibilities of LLC members regarding indemnification. Indemnification is a means to protect LLC members from financial losses or liabilities incurred while performing their duties for the company. In Idaho, there are two primary types of Demand for Indemnity from an LLC by Member: 1. Idaho Demand for Indemnity — Individual Member: This type of demand is specific to a single member of an LLC. When an individual member seeks indemnification, they are requesting the LLC to cover any financial losses or liabilities arising from legal actions, errors, or omissions related to their role in the company. This demand helps protect individual members' personal assets and ensures fair treatment in case of any legal disputes. 2. Idaho Demand for Indemnity — All Members: This type of demand involves all members of an LLC collectively seeking indemnification. Here, all members mutually agree to protect and indemnify each other against losses or liabilities incurred while acting within the scope of their LLC duties. This demand ensures that no member is left financially exposed and encourages a sense of unity and responsibility among all members of the LLC. The Idaho Demand for Indemnity from a Limited Liability Company LLC by Member typically includes the following key elements: 1. Identifying Information: The demand document starts with the LLC's legal name, registered office address, and the name of the member seeking indemnification. 2. Indemnification Agreement: This section outlines the terms and conditions under which indemnification will be provided. It may specify the scope of indemnification, circumstances in which indemnification may be denied, and any limits or exclusions that apply. 3. Statement of Loss or Liability: The member requesting indemnification must provide detailed information about the losses or liabilities they have incurred, including the nature of the incident, expense documentation, and evidence supporting their claim. 4. Representation and Warranties: The member certifies that the information provided is accurate and complete, acknowledging that any misrepresentation may result in the denial of indemnification. 5. Governing Law and Jurisdiction: This section states that the demand for indemnification shall be governed by the laws of Idaho, and any legal disputes arising from this document will be subject to the exclusive jurisdiction of Idaho courts. It's essential to consult with a qualified attorney or legal professional to ensure that the Idaho Demand for Indemnity from a Limited Liability Company LLC by Member accurately reflects the specific needs and requirements of the LLC and its members. Additionally, the content of this description is for informational purposes only and should not be considered legal advice.
Idaho Demand for Indemnity from a Limited Liability Company LLC by Member
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Pursuant to Idaho Code § 30-21-301, the name of the professional limited liability company must contain the words Professional Limited Liability Company, Professional Limited Company or the abbreviation P.L.L.C., or PLLC. CERTIFICATE OF ORGANIZATION PROFESSIONAL LIMITED ... idaho.gov ? CORP ? forms ? LLC ? LLC Prof... idaho.gov ? CORP ? forms ? LLC ? LLC Prof...
(1) On reasonable notice, a member may inspect and copy during regular business hours, at a reasonable location specified by the company, any record maintained by the company regarding the company's activities, affairs, financial condition, and other circumstances, to the extent the information is material to the ... Section 30-25-410 ? Idaho State Legislature idaho.gov ? title30 ? sect30-25-410 idaho.gov ? title30 ? sect30-25-410
In order to allow for the recording of historic uses of the waters of this state, any person using or claiming rights to the use of water for uses other than domestic purposes, which have heretofore been established by diversion and application to a beneficial use shall file a claim of such right with the department of ...
30-25-702. WINDING UP. (a) A dissolved limited liability company shall wind up its activities and affairs and, except as otherwise provided in section 30-25-703, Idaho Code, the company continues after dissolution only for the purpose of winding up. Section 30-25-702 ? Idaho State Legislature idaho.gov ? title30 ? sect30-25-702 idaho.gov ? title30 ? sect30-25-702
45-507. Claim of lien. (1) Any person claiming a lien pursuant to the provisions of this chapter must file a claim for record with the county recorder for the county in which such property or some part thereof is situated.
36-501. SALE AND PURCHASE OF WILDLIFE -- RESTRICTIONS -- EXCEPTIONS. No person shall sell or buy any species of wildlife or parts thereof except as hereinafter provided.
State law gives little guidance on what specifically constitutes ?doing business,? but we know from other state and tax laws that an LLC is typically considered to be ?doing business? and required to foreign qualify if: It has offices, warehouses, stores, or other physical presences in the state. How to Qualify a Foreign LLC in Idaho (2023) | ZenBusiness Inc. zenbusiness.com ? idaho-llc-foreign-qualific... zenbusiness.com ? idaho-llc-foreign-qualific...
63-301. Time of assessment ? Property roll, subsequent property roll and missed property roll. (1) The assessor shall complete an assessment of all real and personal property in his county which is subject to assessment by him on or before the fourth Monday of June.