Utah Code 31A-9-412. Directors’ liability and indemnification
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Utah Code 31A-9-412
- 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 directors’ liability and indemnification in fraternals, except that the word “mutual” shall be read “fraternal”.