Section 10A-1-6.02

Published: 2015

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Section 10A-1-6.02

Section 10A-1-6.02Application of article.

(a) Except as provided by subsection (b), this article does not apply to a:

(1) general partnership;

(2) limited liability company; or

(3) nonprofit corporation.

(b) The governing documents of a general partnership or limited liability company may adopt provisions of this article or may contain enforceable provisions relating to:

(1) indemnification;

(2) advancement of expenses; or

(3) insurance or another arrangement to indemnify or hold harmless a governing person.

(Act 2009-513, p. 967, §48.)