This paper aims to demystify the liability of directors u/s 141 of the Negotiable Instruments Act, 1881. It also recommends certain amendments for the same.
TortsFull description
Are you learning Chinese Pinyin? Here is the Pinyin Guide that will introduce about Pinyin. MCL Academy provides Chinese classes and useful resources for students living in Los Angeles…Full description
Overview of Limited Liability Partnerships in KenyaFull description
In this article, tax attorney Robert E. McKenzie discusses transferee liability for taxes.Full description
TORT Occupier LiabilityFull description
notes from marina uitmFull description
Liability Supporting N
short notes on law of tortsFull description
TortFull description
The essence of criminal law has been said to lie in the maxim—"actus non facit reum nisi mens sit res." There can be no crime large or small, without an evil mind. It is therefore a principl…Full description
MCL 450.1246 Service of Process (1) The resident agent appointed by a corporation is an agent of the corporation upon whom any process, notice, or demand required or permitted by law to be served upon the corporation may be served. (2) A person, whether a resident or nonresident of this state, who accepts election, appointment, or employment as a director or officer of a corporation organied under this act or in e!istence on the effective date of this act, by the acceptance, is held to have appointed the resident agent of the corporation as his or her agent upon who process a! "e served while the person is a director or officer, in any action commenced in a court of g eneral "urisdiction in this state, arising out of or founded upon any action of the domestic corporation or of a person as a director or officer of the domestic corporation. #pon accepting service of process$ the resident agent shall proptl! forward it to the director or officer at his or her last %nown address.
MCL 12.2&0 Personal lia"ilit! of "oard e"er or officer$ appointee$ or eplo!ee of authorit!' indenification' conflict of interest. (1) ( e"er of the "oard or an officer$ appointee$ or eplo!ee of the authorit! is not su")ect to personal lia"ilit! when acting in good faith within the scope of his or her authorit! under this act or on account of lia"ilit! of the authorit! under this act . The board may defend and indemnify a member of the board or an officer, appointee, or employee of the authority against liability arising out of the discharge of his or her official duties under this act. The authority may indemnify and procure insurance indemnifying members of the board and other officers and employees of the authority from personal loss or accountability for liability asserted by a person with regard to bonds b onds or other obligations of the authority, or from any personal liability or accountability for the bond issue or other obligations obligations or by reason of any other action ta#en or the failure to act by the authority under this act. The authority may purchase and maintain insurance on behalf of any person against the liability asserted against the person and incurred by the person in any capacity or arising out of o f the status of the person as a member of the board or an officer o fficer or employee of the authority, whether or not the authority would have the power to indemnify the person against a gainst that liability under this subsection. (2) A member, officer, employee, or agent of the authorit! shall not have an interest$ either directl! or indirectl!$ in an! "usiness "usiness organi*ation organi*ation engaged in an! "usiness "usiness$$ contract$ or transaction with the authorit! or in an! contract of an! other person engaged in an! "usiness with "usiness with the authorit!$ or in the purchase, sale, lease, or transfer of any property to or from the authority. authority.
