In a Corporations Code section 317 motion against the corporation for indemnity, when does the statue of limitations start? I think it would be the date of the bill from the attorney for the work, but if the bill was delayed, maybe the date the work was performed?
1 Answer from Attorneys
Section 317 does not create any cause of action, and therefore there is no statute of limitations. Section 317 only gives the corporation the power to indemnify an agent under certain circumstances. It does not create a right to be indemnified. The right may exist under certain circumstances, but that would be governed by other statutes.