Texas Business Organizations Code
Sec. § 101.402
Permissive Indemnification, Advancement of Expenses, and Insurance or Other Arrangements


(a)

A limited liability company may:

(1)

indemnify a person;

(2)

pay in advance or reimburse expenses incurred by a person; and

(3)

purchase or procure or establish and maintain insurance or another arrangement to indemnify or hold harmless a person.

(b)

In this section, "person" includes a member, manager, or officer of a limited liability company or an assignee of a membership interest in the company.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
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Last accessed
Oct. 14, 2019