275.180 Operating agreement provisions on personal liability and indemnification.
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/ky/chapter-275/275-180A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A written operating agreement may:
(1)Eliminate or limit the personal liability of a member or manager for monetary
damages for breach of any duty provided for in KRS 275.170; and
(2)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 the person is or was a member or manager.