(a) A limited liability company may:
- (1) indemnify a person;
- (2) pay in advance or reimburse expenses incurred by a person; and
- (3) purchase or procure or establish and maintain insurance or another arrangement to indemnify or hold harmless a person.
- (b) In this section, "person" includes a member, manager, or officer of a limited liability company or an assignee of a membership interest in the company.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.