{"data":{"id":"us-mi/mich.-comp.-laws-450.4407","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 450.4407","heading":"Managers; eliminating or limiting liability; exceptions.","body":"Sec. 407.\n\nA provision in the articles of organization or an operating agreement may eliminate or limit the monetary liability of a manager to the limited liability company or its members for breach of any duty established in section 404, except that the provision does not eliminate or limit the liability of a manager for any of the following:\n\nThe receipt of a financial benefit to which the manager is not entitled.\n\nLiability under section 308.\n\nA knowing violation of law.\n\nAn act or omission occurring before the date when the provision becomes effective.","path":["MI Code","Chapter 450","Act Act-23-of-1993"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-450-4407","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"26353f0e75c9ea15d380f76a90024fcfd6aa97e068a716b817602002c4aa9733","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-450.4406","next":"us-mi/mich.-comp.-laws-450.4409"},"notice":"GroundRules: Original legal text. Not legal advice."}