Utah Code 31A-7-310. Officers’, directors’, and employees’ liability and indemnification
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Terms Used In Utah Code 31A-7-310
- Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
Section 31A-5-415 applies to officers’, directors’, and employees’ liability and indemnification in corporations organized and operating under this chapter.
Enacted by Chapter 242, 1985 General Session