Washington Directors and Officers Indemnity Trust

State:
Multi-State
Control #:
US-CC-17-105G
Format:
Word; 
Rich Text
Instant download

Description

This sample form, a detailed Directors and Offiers Indemnity Trust, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats.

Washington Directors and Officers Indemnity Trust is a specialized insurance product that provides financial protection to directors and officers of organizations based in Washington state. This trust is designed to cover legal expenses, settlements, and judgments arising from claims made against directors and officers for alleged wrongful acts committed in their role. Directors and officers of organizations have significant responsibilities and decision-making powers, often making them vulnerable to lawsuits and legal challenges. The Washington Directors and Officers Indemnity Trust offers them peace of mind by providing a safety net against potential financial losses resulting from legal actions taken against them personally. This trust comes in different types to cater to the specific needs of various organizations. Some common types include: 1. Nonprofit Directors and Officers Indemnity Trust: This type of trust focuses on protecting directors and officers serving in nonprofit organizations, such as charities, foundations, and religious institutions. It helps safeguard individuals holding leadership positions against claims related to mismanagement, financial impropriety, negligence, or employment practices. 2. Corporate Directors and Officers Indemnity Trust: This trust specializes in providing coverage for directors and officers operating in for-profit corporations. It is tailored to address the unique risks faced by executives, board members, and company officers, including claims of breach of fiduciary duty, financial mismanagement, negligence, conflicts of interest, and securities violations. 3. Governmental Directors and Officers Indemnity Trust: This type of trust is crafted specifically for directors and officers serving in governmental organizations at the federal, state, or local level. It provides protection against claims of negligence, misrepresentation, violation of civil rights, fiscal impropriety, and other allegations that may arise while performing their official duties. 4. Educational Directors and Officers Indemnity Trust: This trust is designed to shield directors and officers in educational institutions, such as schools, colleges, and universities. It provides coverage for claims related to academic decisions, employment practices, discrimination, harassment, misrepresentation, financial mismanagement, and other issues that may arise in a school or educational setting. It is important for organizations and individuals to carefully evaluate their specific needs and select the appropriate type of Washington Directors and Officers Indemnity Trust to ensure comprehensive protection for their directors and officers. A trusted insurance provider can offer tailored coverage options and guidance to meet these specific needs, providing a solid shield against potential legal risks and financial liabilities.

Free preview
  • Preview Directors and Officers Indemnity Trust
  • Preview Directors and Officers Indemnity Trust
  • Preview Directors and Officers Indemnity Trust
  • Preview Directors and Officers Indemnity Trust
  • Preview Directors and Officers Indemnity Trust
  • Preview Directors and Officers Indemnity Trust
  • Preview Directors and Officers Indemnity Trust
  • Preview Directors and Officers Indemnity Trust
  • Preview Directors and Officers Indemnity Trust

How to fill out Directors And Officers Indemnity Trust?

US Legal Forms - among the largest libraries of lawful forms in the States - delivers a wide array of lawful file templates it is possible to obtain or print out. Using the website, you may get thousands of forms for organization and personal reasons, categorized by classes, states, or key phrases.You can find the newest types of forms just like the Washington Directors and Officers Indemnity Trust within minutes.

If you have a monthly subscription, log in and obtain Washington Directors and Officers Indemnity Trust from your US Legal Forms local library. The Acquire switch can look on every single form you see. You gain access to all formerly acquired forms within the My Forms tab of your accounts.

If you wish to use US Legal Forms for the first time, listed here are basic recommendations to help you started:

  • Be sure to have picked the best form to your town/state. Click the Preview switch to check the form`s content. Read the form description to actually have chosen the right form.
  • When the form doesn`t satisfy your requirements, make use of the Search industry towards the top of the display to discover the one which does.
  • Should you be content with the shape, verify your selection by simply clicking the Get now switch. Then, select the pricing program you like and provide your accreditations to sign up to have an accounts.
  • Process the deal. Make use of your credit card or PayPal accounts to finish the deal.
  • Pick the structure and obtain the shape on the product.
  • Make modifications. Complete, change and print out and sign the acquired Washington Directors and Officers Indemnity Trust.

Each format you included with your account does not have an expiration date and is also the one you have permanently. So, if you want to obtain or print out an additional duplicate, just check out the My Forms portion and click on the form you require.

Get access to the Washington Directors and Officers Indemnity Trust with US Legal Forms, by far the most extensive local library of lawful file templates. Use thousands of skilled and express-particular templates that meet up with your small business or personal requirements and requirements.

Form popularity

FAQ

A company may, however, lend money to a director to fund the director's defence costs. Frequently, an indemnity will include a provision under which the company agrees to lend the director the amounts necessary to fund the director's defence costs.

A company may, however, lend money to a director to fund the director's defence costs. Frequently, an indemnity will include a provision under which the company agrees to lend the director the amounts necessary to fund the director's defence costs.

A director and officer indemnification agreement is a contract that allows executives to protect themselves from claims made against them while performing job. Indemnification means that in the event a lawsuit is filed against a company, the indemnified party is "held harmless" from claims.

Requirement for and duties of board of directors. (1) Each corporation must have a board of directors, except that a corporation may dispense with or limit the authority of its board of directors by describing in its articles of incorporation, or in a shareholders' agreement authorized by RCW 23B.

115, Washington's construction anti-indemnity law. As background, the law voids indemnity provisions requiring construction contractors and designers to defend personal injury and property damage claims caused by another party's negligence.

Indemnification, also referred to as indemnity, is an undertaking by one party (the indemnifying party) to compensate the other party (the indemnified party) for certain costs and expenses, typically stemming from third-party claims.

(1) A limited liability company may indemnify any member or manager from and against any judgments, settlements, penalties, fines, or expenses incurred in a proceeding or obligate itself to advance or reimburse expenses incurred in a proceeding to which a person is a party because such person is, or was, a member or a ...

A D&O policy protects a director or officer's assets and reimburses them for settlements and legal expenses resulting from such litigation and cases. The purpose of professional indemnity insurance is to protect professionals against claims resulting from mistakes or omissions they have made.

Interesting Questions

More info

The articles of incorporation or bylaws may prescribe qualifications for directors. A director need not be a resident of this state or a shareholder of the ... This Indemnification Agreement (the “Agreement”) is entered into on , 20 , between Avalara, Inc., a Washington corporation (the “Company”), and the undersigned ...“Beneficiary” or “Beneficiaries” means an officer or director of the Company who qualifies as a Beneficiary under Section 1.1 of the Trust Agreement. “ ... Both the organization and the person responsible can be penalized for failure to file a timely return (Section 6652). If any unrelated business income tax is ... Jun 15, 2022 — Generally, directors and officers are not entitled to indemnification for any claim, issue or matter where he or she has been found liable or to ... Jul 15, 2013 — Public companies and their boards also are well advised to revisit the indemnification provisions in their charter documents (certificate of ... Apr 3, 2019 — Consider some exotic options, such as the use of a captive or an indemnification trust. Let's look at each in closer detail. To do so, it's ... by JF Olson — Public companies and their boards also are well advised to revisit the indemnification provi- sions in their charter documents (certificate of incorporation and ... (3) Fill vacancies on the board of directors or, subject to ... A nonprofit corporation shall indemnify a director or officer to the extent the director ... The Corporation may enter into contracts with any director or officer of the Corporation in furtherance of the provisions of this Article and may create a trust ...

Trusted and secure by over 3 million people of the world’s leading companies

Washington Directors and Officers Indemnity Trust