Montgomery County in Maryland is home to several governmental bodies and organizations that require approval of indemnification agreements with article amendment and amendment to bylaws. These agreements are crucial for protecting individuals and entities against potential legal claims, providing financial support, and outlining the terms and conditions of indemnification. One type of Montgomery Maryland Approval of Indemnification Agreements is related to county government employees. These agreements ensure that employees are protected from legal actions arising from their official duties, provided they acted within the scope of their employment. The agreements may include provisions defining the extent of coverage, the process for submitting claims, and the review process for approving indemnification. Another type of approval involves nonprofit organizations operating within Montgomery County. Nonprofits often seek indemnification agreements to safeguard their board members, officers, and volunteers from personal liability in the event of lawsuits or damages arising from their roles within the organization. These agreements typically outline the circumstances under which indemnification is granted and the procedures for seeking coverage. Moreover, Montgomery County may approve indemnification agreements with article amendment and amendment to bylaws for government contractors. These agreements protect contractors from potential legal risks, such as third-party claims, while performing work on behalf of the county. The specifics of the indemnification, including coverage limits and requirements for filing claims, would be included in the agreements. The approval of these indemnification agreements typically involves amending existing articles and bylaws governing the respective entities. Amendments may include clarifications or added provisions specifically addressing indemnification. Bylaws usually govern the internal operations and procedures of organizations, and amendments to these bylaws are necessary to reflect any changes related to indemnification and its approval. In summary, Montgomery Maryland Approval of Indemnification Agreements with article amendment and amendment to bylaws are essential for various entities within Montgomery County. These agreements protect employees, nonprofit organizations, and government contractors from potential legal claims, while the amendments ensure updates and clarity within existing articles and bylaws. It is crucial for these agreements to accurately define the scope of coverage and establish procedures for requesting indemnification.
Montgomery Maryland Approval of Indemnification Agreements with article amendment and amendment to bylaws
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How to fill out Montgomery Maryland Approval Of Indemnification Agreements With Article Amendment And Amendment To Bylaws?
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Why do I need an indemnity clause? Indemnity clauses are used to manage the risks associated with a contract, because they enable one party to be protected against the liability arising from the actions of another party.
"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."
An indemnity agreement is a contract that protect one party of a transaction from the risks or liabilities created by the other party of the transaction. Hold harmless agreement, no-fault agreement, release of liability, or waiver of liability are other terms for an indemnity agreement.200c
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
Indemnification clauses are clauses in contracts that set out to protect one party from liability if a third-party or third entity is harmed in any way. It's a clause that contractually obligates one party to compensate another party for losses or damages that have occurred or could occur in the future.
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.
Indemnity Clause Defined Indemnity clauses, also known as indemnification clauses, require one party to reimburse the other for recoverable damages from third-party claims. The indemnifying party is demanding payment. The indemnified party is required to pay.
Indemnification in the context of nonprofit bylaws generally refers to how the nonprofit will protect its directors and other agents in the event they are sued for acting in their capacity as agents of the nonprofit.
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.
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.
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RAW Paste Data Philadelphia-Montgomery Christian Academy Board of Directors Incorporation Article II: Purpose/Scope. The purpose of the Philadelphia-Montgomery Christian Academy is to further the religious, moral, professional, and athletic development of its members and to provide the highest quality public education to children. In order to achieve these goals, the school will seek to attract and retain an outstanding and qualified faculty and staff. Specifically: To be an environment in which every student, teacher, and coach is inspired by the values set forth above. To serve all children, and in the community. To have a sense of community that has its own identity in terms of social services, cultural events, sports and other interests. To provide a safe environment for students and teachers. To help children acquire an understanding of, and develop a strong faith. To cultivate a love of learning and the ability to reach their potential.
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