A limited liability company, or a series thereof, may indemnify and hold harmless a member or other person, pay in advance or reimburse expenses incurred by a member or other person, and purchase and maintain insurance on behalf of a member or other person.
Ohio Rev. Code Ann. § 1706.32
Indemnification, advancement, reimbursement, and insurance
Known as the Ohio Revised Limited Liability Company Act
The act spans §§ 1706–1706 (92 sections).
Effective: April 12, 2021; Latest Legislation: Senate Bill 276 - 133rd General Assembly
Official source: Ohio Laws & Administrative Rules (Legislative Service Commission). Reproduced from public-domain Ohio statutes; confirm against the official source for the current text. Not legal advice.