Nebraska § 21-137 Indemnification and insurance

Nebraska Statutes

§ 21-137 — Indemnification and insurance

Nebraska § 21-137

Ch. 21Corporations and Other Companies

This text of Nebraska § 21-137 (Indemnification and insurance) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 21-137 (2026).

Text

(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 no

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(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.