Let's break it down. "Indemnity" means not having a legal responsibility for something. "Anti" is the opposite of something. A "statute" is a law. So the anti-indemnity statute prevents the elimination of legal responsibility for particular parties (it feels like there's a double-negative involved there).
Generally, the anti-indemnity statute is used in the construction business. A contractor hires a subcontractor and attempts to get the subcontractor to take on any risk associated with the project, legal responsibility for things like accidents and safety. The contractor wants indemnity against being sued if something goes wrong. Anti-indemnity statutes prevent this from happening, at least to some extent. Basically, they put a limit on this indemnity and say that some legal responsibility still rests with the original contractor, whatever it says in the contract they signed with someone else. The scope of these laws vary from state to state. For instance, DC (which we know isn't technically a state, but still) doesn't have any anti-indemnity statutes on the books (as of 2016). Meanwhile, California is one of the few states that prohibits both broad and intermediate indemnity. This according to a report put out by Matthiesen, Wickert & Lehrer.Related or Semi-related Video
Finance: What is a Safe Harbor?3 Views
Finance allah shmoop what is a safe harbor provisions All
right well here's a dangerous harbor and here's a safe
one Yeah ok so now apply the notion to finance
land it's not all that different Safe harbor simply means
that if you follow a basic set of rules you
can not be found guilty of doing a crime or
otherwise shady dealings as you live under those safe harbor
rules Well the most famous safe harbor situation in recent
times and certainly as it applies to shmoop came with
the myriad lawsuits of copyright protection as more or less
all of the valuable content of the world was stolen
and posted on youtube napster and a whole bunch of
other peer to peer networks Well caught in the middle
where the internet service providers comcast tea and dozens of
others who allowed joe six pack to connect to the
internet and download you know blurry art films in order
to sort out the legal situation the government granted safe
harbor provisions to those internet providers such that if it
had been deemed that youtube did in fact steal the
guts of the entertainment industry or provide the gun weaponry
It's for joe six pack to do so and essentially
helped bankrupt the music industry And then they lost a
fifty billion dollar lawsuit Well then on ly google who
owns youtube would be liable The internet service providers like
comcast and at and t were granted safe harbour protections
inside of those lawsuits and they still percolate every now
and then Again you know today so comcast and att
and t basically had a safe harbour built around them
by whole bunch of government lawyers that allowed them to
continue streaming on the internet and providing internet stuff to
the masses And had the government not provided that safe
harbor well it might've made sense for comcast and t
to just shut down and stop internet service to the
masses is and then everyone would have lost And you
know that would have been a bad thing right Right
Well the bottom line there will always be storms and
there will always be a need for safe harbors wherever
you go although you can never be too safe when 00:02:11.163 --> [endTime] there are sharks in the water Yeah
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