Utah Form of Indemnity Agreement by Financial Corporation of Santa Barbara

• Category: Corporations - Public - Indemnification
• State: Multi-State
• Control #: US-CC-17-104M
• Format: Word; Rich Text

Description

17-104M 17-104M . . . Indemnification Agreement authorizing (a) corporation to enter into Indemnity Agreements with each of its directors and officers and directors and officers of its first-tier subsidiaries and (b) establishment of Directors and Officers Indemnity Trust to (i) provide source of funds to secure corporation's obligations under Indemnity Agreements authorized under (a) above to directors and officers of corporation and its first-tier subsidiaries and (ii) advance expenses incurred by them in defense of actions, claims and proceedings against them relating to actions taken in their capacities as directors or officers The Utah Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a legal contract used to outline the terms and conditions of indemnification provided by the corporation to its directors, officers, employees, and agents. This agreement is specifically designed to protect individuals acting on behalf of the corporation against any liabilities, expenses, losses, or damages they may incur while performing their duties. In Utah, the Financial Corporation of Santa Barbara offers various types of Form of Indemnity Agreements, each serving a specific purpose. These agreements include: 1. Director Indemnity Agreement: This agreement is intended to protect the directors of the corporation from legal expenses, damages, or losses resulting from claims made against them for actions taken in their official capacity. 2. Officer Indemnity Agreement: This agreement extends similar protection to the officers of the corporation, ensuring they are covered for any legal costs or liabilities incurred during the course of their duties. 3. Employee Indemnity Agreement: This type of agreement provides indemnification to employees of the corporation who may face legal claims or financial losses while carrying out their job responsibilities. 4. Agent Indemnity Agreement: Agents of the Financial Corporation of Santa Barbara may also benefit from an indemnity agreement, which safeguards them from legal risks and liabilities arising from their authorized actions on behalf of the corporation. The Utah Form of Indemnity Agreement by Financial Corporation of Santa Barbara is drafted in compliance with the legal requirements of the state. It outlines the obligations and responsibilities of both the corporation and the individuals being indemnified. Key provisions of the agreement often include the corporation's commitment to reimburse or advance funds to cover legal expenses, the conditions under which indemnification may be terminated, and the scope of covered actions and liabilities. By offering these different types of indemnity agreements, the Financial Corporation of Santa Barbara ensures that its directors, officers, employees, and agents can fulfill their duties without the constant fear of personal financial repercussions. The corporation's commitment to indemnification not only provides protection and peace of mind to its representatives but also attracts qualified individuals who are willing to serve in these important roles.

The Utah Form of Indemnity Agreement by Financial Corporation of Santa Barbara is a legal contract used to outline the terms and conditions of indemnification provided by the corporation to its directors, officers, employees, and agents. This agreement is specifically designed to protect individuals acting on behalf of the corporation against any liabilities, expenses, losses, or damages they may incur while performing their duties. In Utah, the Financial Corporation of Santa Barbara offers various types of Form of Indemnity Agreements, each serving a specific purpose. These agreements include: 1. Director Indemnity Agreement: This agreement is intended to protect the directors of the corporation from legal expenses, damages, or losses resulting from claims made against them for actions taken in their official capacity. 2. Officer Indemnity Agreement: This agreement extends similar protection to the officers of the corporation, ensuring they are covered for any legal costs or liabilities incurred during the course of their duties. 3. Employee Indemnity Agreement: This type of agreement provides indemnification to employees of the corporation who may face legal claims or financial losses while carrying out their job responsibilities. 4. Agent Indemnity Agreement: Agents of the Financial Corporation of Santa Barbara may also benefit from an indemnity agreement, which safeguards them from legal risks and liabilities arising from their authorized actions on behalf of the corporation. The Utah Form of Indemnity Agreement by Financial Corporation of Santa Barbara is drafted in compliance with the legal requirements of the state. It outlines the obligations and responsibilities of both the corporation and the individuals being indemnified. Key provisions of the agreement often include the corporation's commitment to reimburse or advance funds to cover legal expenses, the conditions under which indemnification may be terminated, and the scope of covered actions and liabilities. By offering these different types of indemnity agreements, the Financial Corporation of Santa Barbara ensures that its directors, officers, employees, and agents can fulfill their duties without the constant fear of personal financial repercussions. The corporation's commitment to indemnification not only provides protection and peace of mind to its representatives but also attracts qualified individuals who are willing to serve in these important roles.