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Florida Statute 605.0408 - Full Text and Legal Analysis
Florida Statute 605.0408 | Lawyer Caselaw & Research
Link to State of Florida Official Statute
F.S. 605.0408 Case Law from Google Scholar Google Search for Amendments to 605.0408

The 2025 Florida Statutes

Title XXXVI
BUSINESS ORGANIZATIONS
Chapter 605
FLORIDA REVISED LIMITED LIABILITY COMPANY ACT
View Entire Chapter
605.0408 Reimbursement, indemnification, advancement, and insurance.
(1) A limited liability company may reimburse a member of a member-managed company or a manager of a manager-managed company for any payment made by the member or manager in the course of the member’s or manager’s activities on behalf of the company if the member or manager complied with ss. 605.0407-605.04074, this section, and s. 605.04091 in making the payment.
(2) A limited liability company may indemnify and hold harmless a person with respect to a claim or demand against the person and a debt, obligation, or other liability incurred by the person by reason of the person’s former or present capacity as a member or manager if the claim, demand, debt, obligation, or other liability does not arise from the person’s breach of s. 605.0405, s. 605.0407, s. 605.04071, s. 605.04072, s. 605.04073, s. 605.04074, or s. 605.04091.
(3) In the ordinary course of its activities and affairs, a limited liability company may advance reasonable expenses, including attorney fees and costs, incurred by a person in connection with a claim or demand against the person by reason of the person’s former or present capacity as a member or manager if the person promises to repay the company in the event that the person ultimately is determined not to be entitled to be indemnified under subsection (2).
(4) A limited liability company may purchase and maintain insurance on behalf of a member or manager of the company against liability asserted against or incurred by the member or manager in that capacity or arising from that status even if:
(a) Under s. 605.0105(3)(g), the operating agreement could not eliminate or limit the person’s liability to the company for the conduct giving rise to the liability; and
(b) Under s. 605.0105(3)(p), the operating agreement could not provide for indemnification for the conduct giving rise to the liability.
History.s. 2, ch. 2013-180.

F.S. 605.0408 on Google Scholar

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Amendments to 605.0408


Annotations, Discussions, Cases:

Cases Citing Statute 605.0408

Total Results: 2  |  Sort by: Relevance  |  Newest First

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Mvw Mgmt., LLC v. Regalia Beach Developers, LLC, 230 So. 3d 108 (Fla. 3d DCA 2017).

Cited 1 times | Published | Florida 3rd District Court of Appeal

liability company and would be governed by section 605.0408.
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Am. Sales & Mgmt. Org. LLC d/b/a Eulen Am. v. Luis Rodriguez Lopez (Fla. 3d DCA 2023).

Published | Florida 3rd District Court of Appeal

...care to ASMO, which the jury by its verdict found ASMO had in fact proven, even if the jury also determined that no damages should be awarded to ASMO for that breach. In light of the jury’s determination, the plain language of sections 605.0408, 605.04091, and 605.0105, Florida Statutes (2016) (the Revised Limited Liability Company Act)7 precluded the trial court from finding in favor 7 As an initial matter, Rodriguez contends that, because ASMO’s underlying lawsuit was fi...
...And finally, we note that the agreed-upon instructions provided to the jury tracked the current version of Chapter 605, not Chapter 608; Rodriguez does not challenge those instructions on appeal. 22 of Rodriguez on his indemnification claim. Section 605.0408(2), Florida Statutes (2016), provides: (2) A limited liability company may indemnify and hold harmless a person with respect to a claim or demand against the person and a debt, obligation, or other liability incur...
...winding up of the company’s activities and affairs is to refrain from engaging 23 in grossly negligent or reckless conduct, willful or intentional misconduct, or a knowing violation of law.” § 605.04091(3). Again, section 605.0408(2) precludes indemnification where the claim arises from a breach of any of these duties. Here, the jury by its verdict expressly determined that “Luis Rodriguez breach[ed] his duty of care or his duty of loyalty to ASMO...
.... (g) Relieve or exonerate a person from liability for conduct involving bad faith, willful or intentional misconduct, or a knowing violation of law. . . . (p) Provide for indemnification for a member or manager under s. 605.0408 for any of the following: 1....

This Florida statute resource is curated by Graham W. Syfert, Esq., a Jacksonville, Florida personal injury and workers' compensation attorney. For legal consultation, call 904-383-7448.