Section 7-80-407 of the Colorado Limited Liability Company Act provides that a limited liability company shall reimburse a person who is or was a member or manager for payments made, and indemnify a person who is or was a person or manager for liabilities incurred by the person, in the ordinary course of business of the limited liability company or for the preservation of its business or property, if such payments were made or liabilities incurred without violation of the person’s duties to the limited liability company.
None of Articles of Organization of, or Operating Agreements for, Augusta Pointe, LLC, Avalon at Inverness, LLC, AVR A, LLC, AVR B, LLC, AVR C, LLC, Beacon Pointe, LLC, Belvedere at Ridgegate, LLC, Blackstone Homes, LLC, Bradburn Village Homes, LLC, Bluffmont Estates, LLC, CC Communities, LLC, CCC Holdings, LLC, CCH Homes, LLC, Centennial Holding Company LLC, Central Park Rowhomes, LLC, Century at Anthology, LLC, Century at Ash Meadows, LLC, Century at Autumn Valley Ranch, LLC, Century at Belleview Place, LLC, Century at Beacon Pointe, LLC, Century at Caley, LLC, Century at Candelas, LLC, Century at Carousel Farms, LLC, Century at Castle Pines Town Center, LLC Century at Claremont Ranch, LLC, Century at Compark Village North, LLC, Century at Compark Village South LLC, Century at Forest Meadows, LLC, Century at Harvest Meadows, LLC, Century at Landmark, LLC, Century at Littleton Village, LLC, Century at Littleton Village II, LLC, Century at LOR, LLC, Century at Lowry, LLC, Century at Marvella, LLC, Century at Mayfield, LLC, Century at Midtown, LLC, Century at Millennium, LLC, Century at Murphy Creek, LLC, Century at Oak Street, LLC, Century at Observatory Heights, LLC, Century at Outlook, LLC, Century at Salisbury Heights, LLC, Century at Shalom Park, LLC, Century at Southshore, LLC, Century at Spring Valley Ranch, LLC, Century at Sterling Ranch, LLC, Century at Tanglewood, LLC, Century at Terrain, LLC, Century at The Grove, LLC, Century at the Heights, LLC, Century at The Meadows, LLC, Century at Vista Ridge, LLC, Century at Wildgrass, LLC, Century at Wolf Ranch, LLC, Century at Wyndham Hill, LLC, Century City, LLC, Century Communities of Georgia, LLC, Century Communities Southeast, LLC, Century Group LLC, Century Land Holdings, LLC, Century Land Holdings II, LLC, Century Land Holdings of Texas, LLC, Century Townhomes at Candelas, LLC, Cherry Hill Park, LLC, Cottages at Willow Park, LLC, Enclave at Boyd Ponds, LLC, Enclave at Cherry Creek, LLC, Enclave at Pine Grove, LLC, Estates at Chatfield Farms, LLC, Hearth at Oak Meadows, LLC, Highlands at Westbury, LLC, Hometown, LLC, Hometown South, LLC, Horizon Building Services, LLC, Ladera, LLC, Lakeview Fort Collins, LLC, Lincoln Park at Ridgegate, LLC, Madison Estates, LLC, Meridian Ranch, LLC, Montecito at Ridgegate, LLC, Park 5th Avenue Development Co., LLC, Parkwood Estates, LLC, Peninsula Villas, LLC, Preserve at Briargate, LLC, Red Rocks Pointe, LLC, Renaissance at Ridgegate, LLC, Reserve at Highpointe Estates, LLC, Reserve at The Meadows, LLC, Saddle Rock Golf, LLC, Saddleback Heights, LLC, SAH Holdings, LLC, Sawgrass at Plum Creek, LLC, Sawgrass at Plum Creek II, LLC, Stetson Ridge Homes, LLC, Stonybridge Villas, LLC, Summerlane Village, LLC, The Retreat at Ridgegate, LLC, The Veranda, LLC, The Vistas at Nor’wood, LLC, The Wheatlands, LLC, Venue at Arista, LLC, Verona Estates, LLC, Villas at Highland Park, LLC, Villas at Murphy Creek, LLC, Waterside at Highland Park, LLC, Westown Condominiums, LLC, Westown Townhomes, LLC, and Wildgrass, LLC specifies the extent to which such company may indemnify any member, manager, or other person.
Georgia Limited Liability Company Registrants
Section 14-11-306 of the Georgia Limited Liability Company Act (which we refer to as the “GLLCA”) provides that a limited liability company may, and has the power to, indemnify and hold harmless any member or manager or other person from and against any and all claims and demands whatsoever arising in connection with the limited liability company, subject to such standards and restrictions, if any, as set forth in the articles of organization or a written operating agreement. However, no limited liability company may indemnify any member or manager for (i) the liability of a member or manager for intentional misconduct or a knowing violation of law, or (ii) any transaction for which the person received a personal benefit in violation or breach of any provision of a written operating agreement.
Section 14-11-305 of the GLLCA provides that a member’s or manager’s duties and liabilities may be expanded, restricted, or eliminated by provisions in the articles of organization or a written operating agreement; provided, however, that no such provision shall eliminate or limit the liability of a member or manager (i) for
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