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15:00 Feb 6, 2007 |
Hungarian to English translations [PRO] Bus/Financial - Business/Commerce (general) | |||||||
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| Selected response from: Eva Blanar Hungary Local time: 21:35 | ||||||
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5 | indemnification |
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indemnification Explanation: "Indemnification is the promise of the corporation to cover the legal expenses/judgements incurred by a board member as a result of their board service." (see link below - I'm sure many more definitions exist) ie from that moment onwards, the Board member shall no longer carry personal responsibility In Hungary, until now, only Prímagáz applied this, but newly, I think this already appeared in corporate law Reference: http://www.tacs.org/qa/qa.asp?tpID=9#45 |
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