New Mexico Directors and Officers Indemnity Trust
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How to fill out Directors And Officers Indemnity Trust?
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FAQ
(1) An action for breach of any contract for sale must be commenced within four 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 year but may not extend it.
In New Mexico, the state's civil statute of limitations is three years for personal injury or defamation and four years for injury to personal property and most other civil claims. New Mexico's criminal statute of limitations ranges from three to six years for felonies and one to two years for misdemeanors.
Companies can agree to indemnify their directors and officers for liability incurred by them in their capacity. A company's constitution usually sets out indemnification rights for directors and officers and provides for D&O Insurance.
The New Mexico Oilfield Anti-Indemnity Act (NMOAIA) voids indemnity agreements that purport to indemnify a party against liability for damages caused by the party's own negligence.
A provision in a construction contract that requires one party to the contract to indemnify, hold harmless, insure or defend the other party to the contract, including the other party's employees or agents, against liability, claims, damages, losses or expenses, including attorney fees, arising out of bodily injury to ...