Colorado § 7-80-407 Reimbursement and indemnification of members and managers

Colorado Statutes

§ 7-80-407 — Reimbursement and indemnification of members and managers

Colorado § 7-80-407

Title 07Corporations

Art.Limited Liability Companies

This text of Colorado § 7-80-407 (Reimbursement and indemnification of members and managers) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 7-80-407 (2026).

Text

A limited liability company shall reimburse a person who is or was a member or
manager for payments made, and indemnify a person who is or was a member or
manager for liabilities incurred by the person, in the ordinary course of the business
of the limited liability company or for the preservation of its business or property, if
such payments were made or liabilities incurred without violation of the person's
duties to the limited liability company.

Free access — add to your briefcase to read the full text and ask questions with AI

A limited liability company shall reimburse a person who is or was a member or
manager for payments made, and indemnify a person who is or was a member or
manager for liabilities incurred by the person, in the ordinary course of the business
of the limited liability company or for the preservation of its business or property, if
such payments were made or liabilities incurred without violation of the person's
duties to the limited liability company.