Terms Used In Vermont Statutes > Title 11B > Chapter 8 > Subchapter 5 - Indemnification

• Agency: means the Agency of Natural Resources. See
• articles: include amended and restated articles of incorporation and articles of merger. See
• Authority: means the Vermont Low-Level Radioactive Waste Authority. See
• board of directors: means the board of directors except that no person or group of persons are the board of directors because of powers delegated to that person or group pursuant to section 8. See
• Bylaws: means the code or codes of rules (other than the articles) adopted pursuant to this title for the regulation or management of the affairs of the corporation, stored or depicted in any tangible or electronic medium, and irrespective of the name or names by which such rules are designated. See
• Closure: includes post-closure observation and maintenance. See
• Commission: means the Texas Low-Level Radioactive Waste Disposal Compact Commission. See
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• Corporation: includes any domestic or foreign predecessor entity of a corporation in a merger or other transaction in which the predecessor's existence ceased upon the consummation of the transaction. See
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Director: includes , unless the context requires otherwise, the estate or personal representative of a director. See
• Directors: means individuals, designated in the articles or bylaws or elected by the incorporators, and their successors and individuals elected or appointed by any other name or title to act as members of the board. See
• Domestic: when applied to a corporation, company, association, or copartnership shall mean organized under the laws of this State; "foreign" when so applied, shall mean organized under the laws of another state, government, or country. See
• Employee: includes an officer but not a director. See
• Entity: includes corporation and foreign corporation; business corporation and foreign business corporation; profit and nonprofit unincorporated association; business trust, estate, partnership, trust, and two or more persons having a joint or common economic interest; and state, United States; and foreign government. See
• Fees: shall mean earnings due for official services, aside from salaries or per diem compensation. See
• 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}
• Individual: includes the estate of an individual who is incompetent. See
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Liability: means the obligation to pay a judgment, settlement, penalty, fine (including an excise tax assessed with respect to an employee benefit plan), or reasonable expenses actually incurred with respect to a proceeding. See
• Low-level radioactive waste: means radioactive material that is not high-level radioactive waste, spent nuclear fuel, transuranic waste, or byproduct material, as defined in 42 U. See
• Low-level radioactive waste: means radioactive waste material that is not high-level radioactive waste, spent nuclear fuel, transuranic waste, or byproduct material, as defined in 42 U. See
• Mutual benefit corporation: means a domestic corporation which is required to be a mutual benefit corporation pursuant to section 17. See
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• NRC: means the Nuclear Regulatory Commission or any successor agency. See
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Official capacity: means :

• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Party: includes an individual who was, is, or is threatened to be made a named defendant or respondent in a proceeding. See
• Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
• Person: means an individual, corporation, partnership, firm, association, trust, estate, public or private institution, group, or other legal entity, or any legal successor to or representative, or agent. See
• Person: includes any individual or entity. See
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• Proceeding: means any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, or investigative and whether formal or informal. See
• Public benefit corporation: means a domestic corporation which is required to be a public benefit corporation pursuant to section 17. See
• Public comment: means ample opportunities for public input, including at least prior availability of a draft decision, policy, or rule, two public hearings in different areas of the State, warned at least twice with a first warning not less than 30 days prior to the hearing by notice to daily media outlets in the area and statewide, and preparation and distribution of a response summary to all comments received. See
• Quorum: The number of legislators that must be present to do business.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Special legal counsel: means counsel that has never been an employee of the corporation and who has not, and whose firm has not, performed legal services for the corporation pertaining to the matter for which indemnification is sought for a period of at least two years before retention as special counsel. See
• State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
• Trustee: A person or institution holding and administering property in trust.
• Vote: includes authorization by written ballot and written consent. See