Section 450.4216 - Limited liability company; powersExcept as otherwise provided in an operating agreement, a limited liability company may do any of the following:
(a) Indemnify, hold harmless, and defend a member, manager, or other person from and against any and all losses, expenses, claims, and demands sustained by that person, except that the company may not indemnify a person for conduct described in section 407(a), (b), or (c).(b) Purchase and maintain insurance on behalf of a member, manager, or other person against any liability or expense asserted against or incurred by that person, whether or not the company may indemnify that person under subdivision (a).Added by 2010, Act 290,s 5, eff. 12/16/2010.