{"data":{"id":"us-mn/minn.-stat.-308a.325","jurisdiction":"us-mn","citation":"Minn. Stat. § 308A.325","heading":"LIMITATION OF DIRECTOR'S LIABILITY.","body":"Subdivision 1. Articles may limit liability.\nA director's personal liability to the cooperative or members for monetary damages for breach of fiduciary duty as a director may be eliminated or limited in the articles as provided in subdivision 2.\nSubd. 2. Restrictions on liability limitation.\nThe articles may not eliminate or limit the liability of a director:\n(1) for a breach of the director's duty of loyalty to the cooperative or its members;\n(2) for acts or omissions that are not in good faith or involve intentional misconduct or a knowing violation of law;\n(3) for a transaction from which the director derived an improper personal benefit; or\n(4) for an act or omission occurring before the date when the provision in the articles eliminating or limiting liability becomes effective.","path":["BUSINESS, SOCIAL, AND CHARITABLE ORGANIZATIONS","CHAPTER 308A. COOPERATIVE LAW","BOARD OF DIRECTORS"],"source_url":"https://www.revisor.mn.gov/statutes/cite/308A.325","current_through":"2025 Minnesota Statutes","vintage":"","retrieved_at":"2026-09-02T22:10:41Z","sha256":"a32bb1712af52e4527ceec46922aba64e66d16e9c6d7dd5a7bd118809ee4561f","source_id":"us-mn","stale":false,"prev":"us-mn/minn.-stat.-308a.321","next":"us-mn/minn.-stat.-308a.327"},"notice":"GroundRules: Original legal text. Not legal advice."}