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2019 New Mexico Statutes
Chapter 53 - Corporations
Article 19 - Limited Liability Companies
Section 53-19-18 - Indemnification of members and managers.
Universal Citation: NM Stat § 53-19-18 (2019)
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.
History: Laws 1993, ch. 280, ยง 18.
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