{"data":{"id":"us-tx/tex.-business-organizations-code-101.402","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 101.402","heading":"PERMISSIVE INDEMNIFICATION, ADVANCEMENT OF EXPENSES, AND INSURANCE OR OTHER ARRANGEMENTS.","body":"(a) A limited liability company may:\n(1) indemnify a person;\n(2) pay in advance or reimburse expenses incurred by a person; and\n(3) purchase or procure or establish and maintain insurance or another arrangement to indemnify or hold harmless a person.\n(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.\nActs 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.","path":["BUSINESS ORGANIZATIONS CODE","TITLE 3. LIMITED LIABILITY COMPANIES","CHAPTER 101. LIMITED LIABILITY COMPANIES","SUBCHAPTER I. MODIFICATION OF DUTIES; INDEMNIFICATION"],"source_url":"https://statutes.capitol.texas.gov/Docs/BO/htm/BO.101.htm#101.402","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"9b8fed4862274dfadfc1f2c15f1d24ebe30981ab01882e21538c2f5d4d35f510","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-101.401","next":"us-tx/tex.-business-organizations-code-101.451"},"notice":"GroundRules: Original legal text. Not legal advice."}