{"data":{"id":"us-ar/ark.-code-ann.-4-32-404","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 4-32-404","heading":"Limitation of liability and indemnification of members and managers.","body":"An operating agreement which is in writing may:\n(1) Eliminate or limit the personal liability of a member or manager for monetary damages for breach of any duty provided for in § 4-32-402; and\n(2) Provide for indemnification of a member or manager for judgments, settlements, penalties, fines, or expenses incurred in a proceeding to which a person is a party because the person is or was a member or manager.","path":["Title 4 Business and Commercial Law","Subtitle 3. Corporations and Associations","Chapter 32 Small Business Entity Tax Pass Through Act","Subchapter 4 — Rights and Duties of Members and Managers"],"source_url":"https://archive.org/download/gov.ar.code/release78.2020.11.06/gov.ar.code.title.04.odt","current_through":"2020-11-06","vintage":"Arkansas Code Release 78 (2020-11), retrieved 2026-09-17; absent from the newer snapshot, which serves other sections of this chapter, so it may since have been repealed or amended","retrieved_at":"2026-09-17T21:07:03Z","sha256":"2efda73ecea48693c484a0fffdf8a650f5911d5e393af1d3982bff14bc034ea5","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-4-32-403","next":"us-ar/ark.-code-ann.-4-32-405"},"notice":"GroundRules: Original legal text. Not legal advice."}