Hawaii Revised Statutes 414-246 – Determination and authorization of indemnification
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Terms Used In Hawaii Revised Statutes 414-246
- 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.
- 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
- Proceeding: includes civil suit and criminal, administrative, and investigatory action. See Hawaii Revised Statutes 414-3
- Shares: means the units into which the proprietary interests in a corporation are divided. See Hawaii Revised Statutes 414-3