{"data":{"id":"us-la/rs-12-1315","jurisdiction":"us-la","citation":"RS 12:1315","heading":"Limitation of liability and indemnification of members and managers","body":"A. Subject to Subsection B of this Section, the articles of organization or a written operating agreement may:\n(1) Eliminate or limit the personal liability of a member or members, if management is reserved to the members, or a manager or managers, if management is vested in one or more managers pursuant to R.S. 12:1312, for monetary damages for breach of any duty provided for in R.S. 12:1314.\n(2) Provide for indemnification of a member or members, or a manager or managers, for judgments, settlements, penalties, fines, or expenses incurred because he is or was a member or manager.\nB. No provision permitted under Subsection A shall limit or eliminate the liability of a member or manager for the amount of a financial benefit received by a member or manager to which he is not entitled or for an intentional violation of a criminal law.","path":["TITLE 12. CORPORATIONS AND ASSOCIATIONS"],"source_url":"https://www.legis.la.gov/legis/Law.aspx?d=76265","current_through":"2025 First Extraordinary Session","vintage":"","retrieved_at":"2026-09-14T04:51:13Z","sha256":"bb9d4d0629fd9fd206e18fdc744777fa894244eee64c88172f578c1fdf64c664","source_id":"us-la","stale":false,"prev":"us-la/rs-12-1314","next":"us-la/rs-12-1316"},"notice":"GroundRules: Original legal text. Not legal advice."}