17-158 17-158 . . . Indemnification Agreement between corporation and its directors and/or officers including future directors and officers containing detailed provisions relating to method for determining whether standards for indemnification or reimbursement have been met and making corporation responsible for all costs of determining whether a person is entitled to indemnification or reimbursement regardless of whether person is ultimately found to be entitled to indemnification
Texas Indemnification Agreement between corporation and its directors regarding method for determining whether standards for indemnification have been met
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How to fill out Indemnification Agreement Between Corporation And Its Directors Regarding Method For Determining Whether Standards For Indemnification Have Been Met?
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FAQ
Texas Oilfield Anti-Indemnity Act Prac. & Rem. Code § 127.003. The act provides that any agreement to indemnify pertaining to an oil and gas well is void if it purports to indemnify a person against damage caused by the sole or concurrent negligence of the indemnitee.
TEXAS ANTI-INDEMNITY ACT Prohibits and makes void broad form and intermediate form indemnity agreements (claims involving the sole or concurrent negligence of indemnitee) for construction projects, if the Act applies to your contract.
An anti-indemnity statute is a law defining how much risk can be transferred between parties in a contract and is oftentimes used in construction contracts. An anti-indemnity statute protects sub-contractors from risks they take on from a primary contractor.
There are three main types of express indemnity clauses: broad form, intermediate form, and limited form. Broad form express indemnity clauses require the indemnitor to hold the indemnitee harmless for all liability, even if the indemnitee is solely at fault.
Texas Insurance Code § 151.102 and Indemnity in Texas Indemnity clauses are contractual provisions that commit one party to compensate the other for losses arising out of a commercial contract.
Indemnification is, generally speaking, a reimbursement by a company of its Ds&Os for expenses or losses they have incurred in connection with litigation or other proceedings relating to their service to the company.
The Anti-Indemnity Provisions of Chapter 151 Section 151.101 states that Subchapter C, the Anti-Indemnity Act, applies to a construction contract for a construction project for which an indemnitor is provided or procures insurance subject to Chapter 151 (a CIP) or Title 10 of the Texas Insurance Code.
Texas Insurance Code § 151.102 and Indemnity in Texas Indemnity clauses are contractual provisions that commit one party to compensate the other for losses arising out of a commercial contract.