felmentvény

English translation: indemnification

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Hungarian term or phrase:felmentvény
English translation:indemnification
Entered by: Douglas Arnott

15:00 Feb 6, 2007
Hungarian to English translations [PRO]
Bus/Financial - Business/Commerce (general)
Hungarian term or phrase: felmentvény
A Közgyűlés évente - a számviteli törvény szerinti beszámoló elfogadásával egyidejűleg napirendjére tűzi az Igazgatóság tagjai előző üzleti évben végzett munkájának értékelését és határoz az Igazgatóság tagjai részére megadható felmentvény tárgyában.
A felmentvény megadásával a Közgyűlés igazolja, hogy az Igazgatóság tagjai az értékelt időszakban munkájukat a gazdasági társaság érdekeinek elsődlegességét szem előtt tartva végezték
A felmentvény hatálytalanná válik, ha utólag a bíróság jogerősen megállapítja, hogy a felmentvény megadására alapul szolgáló információk valótlanok vagy hiányosak voltak.

I know the EU Parliament uses the term discharge to approve the work of the Commission with regard to the budget, but can this same term be used here?
Douglas Arnott
Local time: 21:35
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

Selected response from:

Eva Blanar
Hungary
Local time: 21:35
Grading comment
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Summary of answers provided
5indemnification
Eva Blanar


  

Answers


3 hrs   confidence: Answerer confidence 5/5
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
Eva Blanar
Hungary
Local time: 21:35
Specializes in field
Native speaker of: Hungarian
PRO pts in category: 72
Grading comment
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