2010 Mississippi Code
TITLE 79 - CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS
Chapter 29 - Mississippi Limited Liability Company Act.
79-29-403 - Limitation of liability of members and managers.
§ 79-29-403. Limitation of liability of members and managers.
The certificate of formation or limited liability company agreement may contain a provision eliminating or limiting the liability of a manager or a member to the limited liability company or its members for money damages for any action taken, or any failure to take any action, as a manager or member, except liability for:
(a) The amount of a financial benefit received by a member or manager to which he is not entitled;
(b) An intentional infliction of harm on the limited liability company or the members;
(c) An intentional violation of criminal law; or
(d) A violation of Section 79-29-606.
Sources: Laws, 1994, ch. 402, § 32, eff from and after July 1, 1994.
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