17-7670. Indemnification. - Kansas Statutes

17-7670

Chapter 17.--CORPORATIONS Article 76.--LIMITED LIABILITY COMPANIES

      17-7670.   Indemnification. (a) Subject to such standards and restrictions, if any, as are set forth in its operating agreement, a limited liability company may, and shall have the power to, indemnify and hold harmless any member or manager or other person from and against any and all claims and demands whatsoever.

      (b)   To the extent that a member, manager, officer, employee or agent has been successful on the merits or otherwise or the defenses of any action, suits or proceeding, or in defense of any issue or matter therein, such director, officer, employee or agent shall be indemnified against expenses actually and reasonably incurred by such person in connection therewith, including attorney fees.      

      History:   L. 1999, ch. 119, § 9; Jan. 1, 2000.