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


A limited liability company may:


indemnify a person;


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


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


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.
Last accessed
Oct. 14, 2020