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Code · BILL · 117th Congress · S. 3022 (Introduced in Senate) — To subject certain private funds to joint and several liability with respect to the liabilities of firms acquired and... · Sec. 102

Sec. 102. Indemnification void as against public policy

64 words·~1 min read·/bill/117/s/3022/is/section-102

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It shall be void as against public policy for a target firm, or an affiliate of a target firm, to indemnify a controlling private fund with respect to— the target firm; any affiliate of the target firm; or any person that is the holder of an active interest in the controlling private fund with respect to the liabilities of that person under section 101.
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