{"data":{"id":"us-ky/krs-273.248","jurisdiction":"us-ky","citation":"KRS 273.248","heading":"Articles of incorporation -- Limitation of director liability.","body":"The articles of incorporation of a nonprofit corporation subject to the provisions of KRS\n273.161 to 273.387 may set forth:\n(1) A provision eliminating or limiting the personal liability of a director to the\ncorporation for monetary damages for breach of h is duties as a director, provided\nthat such provision shall not eliminate or limit the liability of a director:\n(a) For any transaction in which the director's personal financial interest is in\nconflict with the financial interests of the corporation;\n(b) For acts or omissions not in good faith or which involve intentional\nmisconduct or are known to the director to be a violation of law; or\n(c) For any transaction from which the director derived an improper personal\nbenefit.\n(2) No such provision shall elim inate or limit the liability of any director for any act or\nomissions occurring prior to the date when such provision becomes effective. In no\ncase shall this subsection or any such provision be construed to expand the liability\nof any director as determined pursuant to KRS 273.215.","path":["KRS Chapter 273"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=13650","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:24Z","sha256":"7e4000b9859edc977000e4c016e039d43cafc5a91c467c3c09fdc93cbccb6ac9","source_id":"us-ky","stale":false,"prev":"us-ky/krs-273.247","next":"us-ky/krs-273.250"},"notice":"GroundRules: Original legal text. Not legal advice."}