BY STEVE GRAFF
The infamous Guam Housing and Urban Renewal Authority trial that ended in late 2019 sparks a larger question around liability for people who serve on any board and may find themselves in legal trouble: Who pays the legal fees?
That often depends on whether they’re indemnified. Indemnification is an agreement by an entity to board members to cover any costs, losses or fines stemming from claims of wrongful acts — that can include misuse of funds, negligence or failure to comply with workplace laws.
“It essentially says, if we appoint you . . .