How do I collect an indemnity?

To get an indemnity bond, you'll have to sign an indemnity agreement with the surety. It states that if a bond claim arises, you'll carry the full financial responsibility -- rather than the surety company that has bonded you.

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Amendment of Articles to Expand Indemnification of Agents

Franklin Ohio Amendment of Articles to Expand Indemnification of Agents

Name: Franklin Ohio Amendment of Articles to Expand Indemnification of Agents
Brand: US Legal Forms
Rating: 4.88 (240 reviews)

Category:

Corporations - Public - Indemnification

State:

Multi-State

County:

Franklin

Control #:

US-CC-17-189-NE

Format:

Instant download

Description

This sample form, a detailed Amendment of Articles to Expand Indemnification of Agents, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats. The Franklin Ohio Amendment of Articles to Expand Indemnification of Agents is a crucial legal provision that aims to enhance the level of protection provided to agents working within the state of Franklin, Ohio. This amendment broadens the existing indemnification system, ensuring agents are safeguarded against potential risks and liabilities they may face while performing their duties. The main purpose of this Franklin Ohio amendment is to expand the scope of indemnification available to agents. Indemnification refers to the process of compensating agents for any losses, damages, or legal expenses they might incur while acting within their authorized capacity on behalf of an organization. This provision instills confidence and reassurance in agents, motivating them to carry out their responsibilities diligently and efficiently. Keywords: Franklin Ohio, Amendment of Articles, Expand Indemnification, Agents, Protection, Enhance, Liability, Legal Expenses, Compensation, Scope, Authorized Capacity, Organization, Confidence, Responsibility, Efficiency. Different Types of Franklin Ohio Amendment of Articles to Expand Indemnification of Agents: 1. Franklin Ohio Amendment of Articles to Expand Indemnification for Corporate Agents: This specific type of amendment focuses on agents working within corporate entities active in Franklin, Ohio. It elaborates on additional indemnification provisions tailored to the unique challenges faced by corporate agents. 2. Franklin Ohio Amendment of Articles to Expand Indemnification for Government Agents: This variant of the amendment concentrates on agents working under government entities within Franklin, Ohio. It addresses the specific risks and liabilities associated with their roles and expands the indemnification system accordingly. 3. Franklin Ohio Amendment of Articles to Expand Indemnification for Non-Profit Agents: This type of amendment outlines the expanded indemnification rights for agents employed by non-profit organizations within Franklin, Ohio. It acknowledges the unique circumstances faced by agents in the non-profit sector and provides enhanced protection accordingly. 4. Franklin Ohio Amendment of Articles to Expand Indemnification for Insurance Agents: This variant of the amendment focuses on widening the indemnification coverage for insurance agents operating within Franklin, Ohio. It recognizes the potential risks and financial implications these agents might encounter and strengthens their protection. Keywords: Franklin Ohio, Amendment of Articles, Expand Indemnification, Agents, Corporate, Government, Non-Profit, Insurance, Entities, Risks, Liabilities, Protection, Unique Challenges, Roles, Rights, Non-Profit Sector, Indemnification Coverage, Financial Implications, Strengthen.

The Franklin Ohio Amendment of Articles to Expand Indemnification of Agents is a crucial legal provision that aims to enhance the level of protection provided to agents working within the state of Franklin, Ohio. This amendment broadens the existing indemnification system, ensuring agents are safeguarded against potential risks and liabilities they may face while performing their duties. The main purpose of this Franklin Ohio amendment is to expand the scope of indemnification available to agents. Indemnification refers to the process of compensating agents for any losses, damages, or legal expenses they might incur while acting within their authorized capacity on behalf of an organization. This provision instills confidence and reassurance in agents, motivating them to carry out their responsibilities diligently and efficiently. Keywords: Franklin Ohio, Amendment of Articles, Expand Indemnification, Agents, Protection, Enhance, Liability, Legal Expenses, Compensation, Scope, Authorized Capacity, Organization, Confidence, Responsibility, Efficiency. Different Types of Franklin Ohio Amendment of Articles to Expand Indemnification of Agents: 1. Franklin Ohio Amendment of Articles to Expand Indemnification for Corporate Agents: This specific type of amendment focuses on agents working within corporate entities active in Franklin, Ohio. It elaborates on additional indemnification provisions tailored to the unique challenges faced by corporate agents. 2. Franklin Ohio Amendment of Articles to Expand Indemnification for Government Agents: This variant of the amendment concentrates on agents working under government entities within Franklin, Ohio. It addresses the specific risks and liabilities associated with their roles and expands the indemnification system accordingly. 3. Franklin Ohio Amendment of Articles to Expand Indemnification for Non-Profit Agents: This type of amendment outlines the expanded indemnification rights for agents employed by non-profit organizations within Franklin, Ohio. It acknowledges the unique circumstances faced by agents in the non-profit sector and provides enhanced protection accordingly. 4. Franklin Ohio Amendment of Articles to Expand Indemnification for Insurance Agents: This variant of the amendment focuses on widening the indemnification coverage for insurance agents operating within Franklin, Ohio. It recognizes the potential risks and financial implications these agents might encounter and strengthens their protection. Keywords: Franklin Ohio, Amendment of Articles, Expand Indemnification, Agents, Corporate, Government, Non-Profit, Insurance, Entities, Risks, Liabilities, Protection, Unique Challenges, Roles, Rights, Non-Profit Sector, Indemnification Coverage, Financial Implications, Strengthen.

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FAQ

"Each party agrees to indemnify, defend, and hold harmless the other party from and against any loss, cost, or damage of any kind (including reasonable outside attorneys' fees) to the extent arising out of its breach of this Agreement, and/or its negligence or willful misconduct."

Tips for Enforcing Indemnification Provisions Identify Time Periods for Asserting Indemnification Rights.Provide Notice in a Timely Fashion.Notify All Concerned Parties.Understand Limitations on Recovery.Exclusive Remedy.Scope of Damages.Claims Process/Dispute Resolution.

Indemnification provisions are generally enforceable. There are certain exceptions however. Indemnifications that require a party to indemnify another party for any claim irrespective of fault ('broad form' or 'no fault' indemnities) generally have been found to violate public policy.

Under Section 145(c) of the Delaware General Corporation Law (DGCL), Delaware corporations are required, in certain circumstances, to indemnify directors and officers of the corporation for costs incurred in connection with litigation and other proceedings arising from the official's corporate role, including attorneys

Example 1: Here is an example of a simple indemnity clause in a contract: "I hereby release, acquit and discharge company and its agents and employees from any liability arising from any circumstance including the negligence of company or its employees.

To get an indemnity bond, you'll have to sign an indemnity agreement with the surety. It states that if a bond claim arises, you'll carry the full financial responsibility -- rather than the surety company that has bonded you.

Court will not enforce an indemnification provision that indemnifies an indemnitee for its own negligence unless the intention of the parties is clearly and unambiguously expressed. Courts first look for specific language in the contract that address the fault or negligence of the indemnitee.

You should look to limit indemnification clauses by narrowing their scope, putting in caps on damages, and clearly defining the indemnifiable acts (i.e. the representations and warranties in the example above). Also consider purchasing insurance as a means to limit your financial risk.

Party A shall indemnify, defend and hold harmless Party B against any and all loss arising out of, by reason of, in connection with or as a result of third-party claims in connection with intellectual property that is the subject matter of license under this agreement.

To indemnify means to compensate someone for his/her harm or loss. In most contracts, an indemnification clause serves to compensate a party for harm or loss arising in connection with the other party's actions or failure to act. The intent is to shift liability away from one party, and on to the indemnifying party.

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The name and street address in the State of California of the Corporation's initial agent for service of process is: C T Corporation System. Commonwealth Agency Fees.One of the restrictions on the recovery of damages in a breach of contract claim is the rule on legal causation. Upon receipt of Bidding Documents, verify that documents are complete. Hereof, and (vi) have the right to approve amendments to Article IV of the Code of Regulations of the Corporation.

A representative of the Corporation shall have the power to conduct a hearing upon any question which arises upon application. The representative of the Corporation shall preside at the hearing, but shall grant full and final discretion in the ultimate determination of such question. The Corporation may be represented at the hearing of any matter or petition before it by an attorney, personal or firm, agent, or employee, unless the matters or petition involve property that is the subject of an Action in Court or have a nature substantially different from that which the matter or petition will result in. Bidding Documents of the Corporation and the bids shall be examined by the Corporation to satisfy itself whether all bids are acceptable and to determine its final award unless Bidding Documents are determined to have been materially undated.

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Franklin Ohio Amendment of Articles to Expand Indemnification of Agents

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