Texas § 101.402 PERMISSIVE INDEMNIFICATION, ADVANCEMENT OF EXPENSES, AND INSURANCE OR OTHER ARRANGEMENTS.

Texas Statutes

§ 101.402 — PERMISSIVE INDEMNIFICATION, ADVANCEMENT OF EXPENSES, AND INSURANCE OR OTHER ARRANGEMENTS.

Texas § 101.402

Code BOBusiness Organizations Code

This text of Texas § 101.402 (PERMISSIVE INDEMNIFICATION, ADVANCEMENT OF EXPENSES, AND INSURANCE OR OTHER ARRANGEMENTS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Business Organizations Code Code Ann. § 101.402 (2026).

Text

Sec. 101.402. PERMISSIVE INDEMNIFICATION, ADVANCEMENT OF EXPENSES, AND INSURANCE OR OTHER ARRANGEMENTS.

(a)A limited liability company may:

(1)indemnify a person;

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

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

(b)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. SUBCHAPTER J. DERIVATIVE PROCEEDINGS

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Sec. 101.402. PERMISSIVE INDEMNIFICATION, ADVANCEMENT OF EXPENSES, AND INSURANCE OR OTHER ARRANGEMENTS. (a) A limited liability company may:
(1) indemnify a person;
(2) pay in advance or reimburse expenses incurred by a person; and
(3) purchase or procure or establish and maintain insurance or another arrangement to indemnify or hold harmless a person.
(b) 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.
SUBCHAPTER J. DERIVATIVE PROCEEDINGS