O.C.G.A.
O.C.G.A. § 14-11-306 (2019)
Indemnification
✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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Subject to such standards and restrictions, if any, as are set forth in the articles of organization or a written 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 arising in connection with the limited liability company; provided, however, that no limited liability company shall have the power to indemnify any member or manager for any liability that may not be eliminated or limited by the articles of organization or a written operating agreement by reason of division (4)(A)(i) or (ii) of Code Section 14-11-305.
History
(Code 1981, § 14-11-306, enacted by Ga. L. 1993, p. 123, § 1.)
Notes of Decisions
Cited in 1
case (1 in the last 5 years), 2021–2021 · leading case: Magwell, LLC. v. Susan Wells-Wilson (Ga. Ct. App. 2021).
Magwell, LLC. v. Susan Wells-Wilson (Ga. Ct. App. 2021). “05 of the Operating Agreement11 because his “actions were in violation and breach of the Operating Agreement,” we cannot say from our review of the 11 This Section provides in part: To the fullest extent permitted under Section 14-11-306 . . . or any successor statute, the…”
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