Section 10A-1-6.02


Published: 2015

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Get a Day Pass for only USD$9.99.
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.)