§ 21-137 — Indemnification and insurance

(RULLCA 408) (a) A limited
liability company shall reimburse for any payment made and indemnify for any
debt, obligation, or other liability incurred by a member of a member-managed
company or the manager of a manager-managed company in the course of the member's
or manager's activities on behalf of the company, if, in making the payment
or incurring the debt, obligation, or other liability, the member or manager
complied with the duties stated in sections 21-134 and 21-138 .
(b) A limited liability
company may purchase and maintain insurance on behalf of a member or manager
of the company against liability asserted against or incurred by the member
or manager in that capacity or arising from that status even if, under subsection
(f) of section 21-110 , the operating agreement could not eliminate or limit
the person's liability to the company for the conduct giving rise to the liability.

Legislative History

Source: Laws 2010, LB888, § 37.