A limited liability company, or a series thereof, may indemnify and hold harmless a member or other person, pay in advance or reimburse expenses incurred by a member or other person, and purchase and maintain insurance on behalf of a member or other person.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 5A - Alabama Limited Liability Company Law of 2014.
Article 4 - Relations of Members to Each Other and to the Limited Liability Company.
Section 10A-5A-4.01 - Admission of Members.
Section 10A-5A-4.02 - Limited Liability Company Property.
Section 10A-5A-4.03 - Contribution.
Section 10A-5A-4.04 - Liability for Contribution.
Section 10A-5A-4.05 - Sharing of and Right to Distributions Before Dissolution.
Section 10A-5A-4.06 - Limitation on Distributions and Liability for Improper Distributions.
Section 10A-5A-4.07 - Direction and Oversight of the Limited Liability Company.
Section 10A-5A-4.08 - Duties of Persons With Direction and Oversight.
Section 10A-5A-4.09 - Records to Be Kept; Right of Members and Dissociated Members to Information.
Section 10A-5A-4.10 - Indemnification, Advancement, Reimbursement, and Insurance.