2011 Idaho Code
TITLE 30 CORPORATIONS
CHAPTER 6 IDAHO UNIFORM LIMITED LIABILITY COMPANY ACT
PART 4. RELATIONS OF MEMBERS TO EACH OTHER AND TO LIMITED LIABILITY COMPANY
30-6-408 INDEMNIFICATION AND INSURANCE.
30-6-408. Indemnification and insurance. (1) A limited liability company shall reimburse for any payment made and indemnify for any debt, obligation or other liability incurred by a member of a member-managed company or the manager of a manager-managed company in the course of the member’s or manager’s activities on behalf of the company, if, in making the payment or incurring the debt, obligation or other liability, the member or manager complied with the duties stated in sections 30-6-405 and 30-6-409, Idaho Code.
(2) A limited liability company may purchase and maintain insurance on behalf of a member or manager of the company against liability asserted against or incurred by the member or manager in that capacity or arising from that status even if, under section 30-6-110(7), Idaho Code, the operating agreement could not eliminate or limit the person’s liability to the company for the conduct giving rise to the liability.
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