2013 New Hampshire Revised Statutes
Title XXVIII - PARTNERSHIPS
Chapter 304-C - LIMITED LIABILITY COMPANIES
Section 304-C:117 - Advancement of Legal Costs, Etc.


NH Rev Stat § 304-C:117 (2013) What's This?

    304-C:117 Advancement of Legal Costs, Etc. – Subject to such standards and restrictions, if any, as are set forth in its operating agreement, a limited liability company may advance to members, managers, and other persons their costs, including legal fees, in defending themselves against claims arising from their relationship to the limited liability company:
    I. If the operating agreement so provides; or
    II. If a majority of the disinterested members so vote.

Source. 2012, 232:2, eff. Jan. 1, 2013.


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