There is a newer version of the New Mexico Statutes
2011 New Mexico Statutes
Chapter 53: Corporations
Article 19: Limited Liability Companies, 53-19-1 through 53-19-74
Section 53-19-18: Indemnification of members and managers.
NM Stat § 53-19-18 (1996 through 1st Sess 50th Legis) What's This?
53-19-18. Indemnification of members and managers.
The articles of organization or an operating agreement may provide for indemnification of a member or manager for judgments, settlements, penalties, fines or expenses incurred in a proceeding to which a person is a party because he is or was a member or manager and for advancement of expenses, including costs of defense, prior to final disposition of such proceeding.
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