Nevada § 86.441 - Indemnification of member or manager: Advancement of expenses
Full text of Nevada Nevada Revised Statutes § 86.441 — Indemnification of member or manager: Advancement of expenses, with citation guidance and answers to common questions.
§ 86.441. Indemnification of member or manager: Advancement of expenses
The articles of organization, the operating agreement or a separate agreement made
by a limited-liability company may provide that the expenses of members and managers
incurred in defending a civil or criminal action, suit or proceeding must be paid
by the company as they are incurred and in advance of the final disposition of the
action, suit or proceeding, upon receipt of an undertaking by or on behalf of the
manager or member to repay the amount if it is ultimately determined by a court of
competent jurisdiction that the member or manager is not entitled to be indemnified
by the company. The provisions of this section do not affect any rights to advancement of expenses
to which personnel of the company other than managers or members may be entitled under
any contract or otherwise by law.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 86.441
What does Nevada Revised Statutes § 86.441 cover?
Section 86.441 ("Indemnification of member or manager: Advancement of expenses") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 86.441?
A common citation format is "Nevada Revised Statutes § 86.441" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 86.441 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.