Alabama Code (Last Updated: November 28, 2014) |
Title10A ALABAMA BUSINESS AND NONPROFIT ENTITIES CODE. |
Chapter5A. LIMITED LIABILITY COMPANIES. |
Article4. Relations of Members to Each Other and to the Limited Liability Company. |
§10A-5A-4.10. Indemnification, advancement, reimbursement, and insurance.
Latest version.
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A limited liability company, or a series thereof, may indemnify and hold harmless a member or other person, pay in advance or reimburse expenses incurred by a member or other person, and purchase and maintain insurance on behalf of a member or other person.