Indiana Code 23-18-4-9. Managerial omissions; penalties or consequences
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Sec. 9. If set forth in writing, an operating agreement may provide that:
(2) at the time or upon the happening of events specified in the operating agreement, a manager is subject to penalties or consequences specified in the operating agreement.
(1) a manager who fails to perform and comply with the terms and conditions of the operating agreement is subject to penalties or consequences specified in the operating agreement; and
Terms Used In Indiana Code 23-18-4-9
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
As added by P.L.8-1993, SEC.301.