RCW 25.15.041
220 words·~1 min read·
/wa/title-25/chapter-25-15/25-15-041·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)A limited liability company may indemnify any member or manager from and against any judgments, settlements, penalties, fines, or expenses incurred in a proceeding or obligate itself to advance or reimburse expenses incurred in a proceeding to which a person is a party because such person is, or was, a member or a manager, provided that no such indemnity shall indemnify a member or a manager from or on account of acts or omissions of the member or manager finally adjudged to be intentional misconduct or a knowing violation of law by the member or manager, or conduct of the member or manager adjudged to be in violation of RCW 25.15.231 .
(2)A limited liability company may indemnify and advance expenses under subsection
(1)of this section to an officer, employee, or agent of the limited liability company who is not a member or manager to the same extent as to a member or manager.
(3)For purposes of this section:
(a)"Expenses" include counsel fees.
(b)"Party" includes a person who was, is, or is threatened to be made a named defendant or respondent in a proceeding.
(c)"Proceeding" means any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, or investigative and whether formal or informal.
[ 2015 c 188 s 12 .]