Full text of Utah Utah Code § 4a-1408 — Indemnification for breach., with citation guidance and answers to common questions.
§ 4a-1408. Indemnification for breach.
Effective 5/9/2017 67-4a-1408.
Indemnification for breach.
(1)
If a claim is made or action commenced arising out of an event described in Subsection 67-4a-1407(1) relating to confidential information possessed by the administrator, this state shall indemnify, defend, and hold harmless a holder and the holder's affiliates, officers, directors, employees, and agents as to:
(a)
any claim or action; and
(b)
a liability, obligation, loss, damage, cost, fee, penalty, fine, settlement, charge, or other expense, including reasonable attorney fees and costs, established by the claim or action.
(2)
If a claim is made or action commenced arising out of an event described in Subsection 67-4a-1407(1) relating to confidential information possessed by an administrator's agent, the administrator's agent shall indemnify, defend, and hold harmless a holder and the holder's affiliates, officers, directors, employees, and agents as to:
(a)
any claim or action; and
(b)
a liability, obligation, loss, damage, cost, fee, penalty, fine, settlement, charge, or other expense, including reasonable attorney fees and costs, established by the claim or action.
(3)
The administrator shall require the administrator's agent that will receive confidential information required under this chapter to maintain adequate insurance for indemnification obligations of the administrator's agent under Subsection (2).
(4)
The agent required to maintain the insurance shall provide evidence of the insurance to:
(a)
the administrator not less frequently than annually; and
(b)
the holder on commencement of an examination and annually thereafter until all confidential information is returned or destroyed under Subsection 67-4a-1406(5).
Section 4a-1408 ("Indemnification for breach.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Utah § 4a-1408?
A common citation format is "Utah Code § 4a-1408" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 4a-1408 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
