Kentucky Indemnity Agreement between corporation and directors and / or officers
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How to fill out Indemnity Agreement Between Corporation And Directors And / Or Officers?
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FAQ
There is no time limit for any felony. Cases for misdemeanors must be started within 1 year. If the victim of a misdemeanor sexual offense (under Kentucky Revised Statutes section 510.010 et seq.) is a minor at the time of the crime, the case must start within 5 years of the victim's 18th birthday.
Credit Card Debt? Limitations include written- 10 years, open-ended- 5 years, promissory note- 15 years, & vocally- 5 years.
(1) An action for breach of any contract for sale must be commenced within four (4) years after the cause of action has accrued. By the original agreement the parties may reduce the period of limitation to not less than one (1) year but may not extend it.
Insurance ? The indemnification agreement typically will require that the company provide D&O liability insurance that protects the indemnitee to the same extent as the most favorably insured of the company's and its affiliates' current directors and officers.
Discovery Rule - Under the "discovery rule," the one year limitation period does not begin to run until the plaintiff discovers his or her injury. For this exception to apply, the injury must have been not immediately evident or discoverable with the exercise of reasonable diligence.
These deadlines will vary depending on the type of case and the limitations laws in the Bluegrass State range from one to fifteen years. The ?clock" on claims starts ticking on either the date of the incident or the discovery of the harm.