Maine Revised Statutes Title 13-C Sec. 860 – Exclusivity of subchapter
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Terms Used In Maine Revised Statutes Title 13-C Sec. 860
- 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
- officer: includes , unless the context requires otherwise, the estate or personal representative of a director or officer. See Maine Revised Statutes Title 13-C Sec. 851
A corporation may provide indemnification or advance expenses to a director or an officer only as permitted by this subchapter. [PL 2001, c. 640, Pt. A, §2 (NEW); PL 2001, c. 640, Pt. B, §7 (AFF).]
SECTION HISTORY
PL 2001, c. 640, §A2 (NEW). PL 2001, c. 640, §B7 (AFF).