Current as of January 01, 2019 | Updated by FindLaw Staff
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A limited liability company shall reimburse a person who is or was a member or manager for payments made, and indemnify a person who is or was a member or manager for liabilities incurred by the person, in the ordinary course of the business of the limited liability company or for the preservation of its business or property, if such payments were made or liabilities incurred without violation of the person's duties to the limited liability company.
Cite this article: FindLaw.com - Colorado Revised Statutes Title 7. Corporations and Associations § 7-80-407. Reimbursement and indemnification of members and managers - last updated January 01, 2019 | https://codes.findlaw.com/co/title-7-corporations-and-associations/co-rev-st-sect-7-80-407/
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