Limited Liability Companies For Dummies

As noted above, the Court concludes that the actions underlying Brady’s claims against the other company Defendants, and particularly the termination of her employment with United Tool, do not translate to claims against Enterprise or defenses to Enterprise’s claims and do not excuse Brady’s failure to make capital contributions as an Enterprise Member. The term, when used in relation to any power or duty requiring collective action, shall be construed to mean "board of directors." "Dissolve" or "dissolution."

Such indemnification is declared to be consistent with the public policy of this Commonwealth. (d) Payment of expenses.--Expenses incurred by a partner or other person in defending any action or proceeding against which indemnification may be made pursuant to this section may be paid by the limited partnership in advance of the final disposition of such action or proceeding upon receipt of an undertaking by or on behalf of such person to repay such amount if it shall ultimately be determined that he is not entitled to be indemnified by the limited partnership. (e) Rights to indemnification.--The indemnification and advancement of expenses provided by, or granted pursuant to, this section shall, unless otherwise provided when authorized or ratified, continue as to a person who has ceased to serve in the capacity as to which he was indemnified and shall inure to the benefit of the heirs, executors and administrators of such person. 2001 Amendment , cited: click online. Ellyn Law offers clients a “world of resources” at home and abroad , e.g. http://internationalrelo.net/ebooks/the-business-judgment-rule-fiduciary-duties-of-corporate-officers-sixth-edition-v-ol-1-4.

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