Indiana Statutes
§ 23-18-4-9 — Managerial omissions; penalties or consequences
Indiana § 23-18-4-9
JurisdictionIndiana
Title 23BUSINESS AND OTHER ASSOCIATIONS
Art. 18LIMITED LIABILITY COMPANIES
Ch. 4Rights and Duties of Members and Managers
This text of Indiana § 23-18-4-9 (Managerial omissions; penalties or consequences) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Ind. Code § 23-18-4-9 (2026).
Text
If set forth in writing, an operating agreement may provide that:
(1)a manager who fails to perform and comply with the terms and
conditions of the operating agreement is subject to penalties or
consequences specified in the operating agreement; and
(2)at the time or upon the happening of events specified in the
operating agreement, a manager is subject to penalties or
consequences specified in the operating agreement.
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Legislative History
As added by P.L.8-1993, SEC.301.
Nearby Sections
15
§ 23-0.5-1-1
Short title§ 23-0.5-1-2
Application§ 23-0.5-1-3
Application; exceptions§ 23-0.5-1-4
Delivery of record§ 23-0.5-1-5
Rules and procedures§ 23-0.5-1-6
Terms dependent on facts ascertainable outside the plan or filed
document; articles of amendment§ 23-0.5-1.5-1
Application of definitions§ 23-0.5-1.5-10
"Filed record"§ 23-0.5-1.5-11
"Filing entity"§ 23-0.5-1.5-12
"Foreign"§ 23-0.5-1.5-13
"General partnership"§ 23-0.5-1.5-14
"Governance interest"§ 23-0.5-1.5-15
"Governing person"§ 23-0.5-1.5-16
"Interest"§ 23-0.5-1.5-17
"Interest holder"Cite This Page — Counsel Stack
Bluebook (online)
Indiana § 23-18-4-9, Counsel Stack Legal Research, https://law.counselstack.com/statute/in/23-18-4-9.