November 14, 2011, 08:16
Lisa PetersonFinancial Institution Contract
I was asked to approve a contract for the electronic transfer of funds - a form contract created by a national organization. It was drafted for a private corporation, so I made the usual minor changes - then it called for us to indemnify the bank. I added language about the constitution and laws of the state - and am now fighting the "but all the OTHER counties signed it" battle.
Has anyone approved this contract? How did you get past indemnification? Or...did the auditor and treasurer just slip it past you?
Lisa L. Peterson
Nolan County Attorney
November 14, 2011, 09:22
Scott BrumleyWe have not signed such a contract, and we routinely edit out indemnification language from contracts on just the ground you describe.
November 14, 2011, 16:02
Lisa PetersonThanks, Scott. When I start going up against these attorneys for national banking organizations, I remember I'm just a country lawyer....(no suspenders to snap, though!)
Lisa L. Peterson
Nolan County Attorney