(a) A domestic or foreign limited partnership may indemnify a person made a party to an action because the person is or was a partner, employee, officer, or agent of the partnership against liability incurred in the action if:(1) the person's conduct was in good faith; and(2) the person reasonably believed:(A) in the case of conduct in the person's capacity as a partner, that the person's conduct was in the best interests of the partnership; and(B) in all other cases that the person's conduct was at least not opposed to the best interests of the limited partnership or foreign limited partnership; and(3) in the case of any criminal action, the person either:(A) had reasonable cause to believe the person's conduct was lawful; or(B) had no reasonable cause to believe the person's conduct was unlawful.(b) The indemnification provided for in subsection (a) does not exclude any other rights to indemnification that a partner, employee, officer, or agent of the domestic or foreign limited partnership may have under the partnership agreement or with the written consent of all partners.As added by P.L.147-1988, SEC.1.
Indiana Legal Code