Wisconsin § 183.0408 Reimbursement; indemnification; advancement; and insurance.

Wisconsin Statutes

§ 183.0408 — Reimbursement; indemnification; advancement; and insurance.

Wisconsin § 183.0408

Ch. 183Uniform limited liability company law

Subch.subch. IV of ch. 183 SUBCHAPTER IV

RELATIONS OF MEMBERS TO EACH OTHER AND TO LIMITED LIABILITY COMPANY

This text of Wisconsin § 183.0408 (Reimbursement; indemnification; advancement; and insurance.) is published on Counsel Stack Legal Research, covering Wisconsin primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wis. Stat. § 183.0408 (2026).

Text

0408
0408(1) (1) A limited liability company shall reimburse a member of a member-managed company or the manager of a manager-managed company for any payment made by the member or manager in the course of the member’s or manager’s activities on behalf of the company, if the member or manager complied with ss. 183.0405 , 183.0407 , and 183.0409 in making the payment.
0408(2) (2) A limited liability company shall indemnify and hold harmless a person with respect to any claim or demand against the person and any debt, obligation, or other liability incurred by the person by reason of the person’s former or present capacity as a member or manager, if the claim, demand, debt, obligation, or other liability does not arise from the person’s breach of s. 183.0405 , 183.0407 , or 183.04

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183.0408
183.0408(1) (1) A limited liability company shall reimburse a member of a member-managed company or the manager of a manager-managed company for any payment made by the member or manager in the course of the member’s or manager’s activities on behalf of the company, if the member or manager complied with ss. 183.0405 , 183.0407 , and 183.0409 in making the payment.
183.0408(2) (2) A limited liability company shall indemnify and hold harmless a person with respect to any claim or demand against the person and any debt, obligation, or other liability incurred by the person by reason of the person’s former or present capacity as a member or manager, if the claim, demand, debt, obligation, or other liability does not arise from the person’s breach of s. 183.0405 , 183.0407 , or 183.0409 .
183.0408(3) (3) In the ordinary course of its activities and affairs, a limited liability company may advance reasonable expenses, including attorney fees and costs, incurred by a person in connection with a claim or demand against the person by reason of the person’s former or present capacity as a member or manager, if the person promises to repay the company if the person ultimately is determined not to be entitled to be indemnified under sub. (2) .
183.0408(4) (4) A limited liability company may purchase and maintain insurance on behalf of a member or manager against liability asserted against or incurred by the member or manager in that capacity or arising from that status even if, under s. 183.0105 (3) (g) , the operating agreement could not eliminate or limit the person’s liability to the company for the conduct giving rise to the liability.