79-14-108 - Indemnification.
§ 79-14-108. Indemnification.
Subject to such standards and restrictions set forth in its partnership agreement, a limited partnership may, and shall have the power to, indemnify and hold harmless any partner or other person from and against any and all claims and demands whatsoever. However, the failure of a partnership agreement to provide or contain such standards and restrictions does not mean that a limited partnership may not, and does not have the power to, indemnify and hold harmless any partner or other person from and against any and all claims and demands whatsoever.
Sources: Laws, 1987, ch. 488, § 108, eff from and after January 1, 1988.