Subject to such standards and restrictions, if any, as are set forth in the articles of organization or a written operating agreement, a limited liability company may, and shall have the power to, indemnify and hold harmless any member or manager or other person from and against any and all claims and demands whatsoever arising in connection with the limited liability company; provided, however, that no limited liability company shall have the power to indemnify any member or manager for any liability that may not be eliminated or limited by the articles of organization or a written operating agreement by reason of division (4)(A)(i) or (ii) of Code Section 14-11-305.
Section: Previous 14-11-301 14-11-302 14-11-303 14-11-304 14-11-305 14-11-306 14-11-307 14-11-308 14-11-309 14-11-310 14-11-311 14-11-312 14-11-313 14-11-314 NextLast modified: October 14, 2016