{
  "urn": "urn:us-la:rs:12:1315",
  "title_number": "12",
  "section_number": "1315",
  "citation": "R.S. 12:1315",
  "heading": "Limitation of liability and indemnification of members and managers",
  "text": "A. Subject to Subsection B of this Section, the articles of organization or a written operating agreement may:\n\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\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.\n\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.",
  "status": "active",
  "hierarchy_path": [
    {
      "level": "title",
      "number": "12",
      "name": "CORPORATIONS AND ASSOCIATIONS"
    },
    {
      "level": "chapter",
      "number": "22",
      "name": "LIMITED LIABILITY COMPANIES"
    },
    {
      "level": "part",
      "number": "III",
      "name": "MANAGEMENT AND MANAGEMENT RIGHTS OF MEMBERS"
    }
  ],
  "breadcrumb": "Title 12 › Chapter 22 › Part III",
  "acts_citations": [
    {
      "act_year": 1992,
      "act_number": 780,
      "section": 2,
      "effective_date": "1992-07-07",
      "effective_date_raw": "July 7, 1992",
      "role": "enactment"
    }
  ],
  "acts_citations_raw": "Acts 1992, No. 780, §2, eff. July 7, 1992.",
  "source_url": "https://legis.la.gov/legis/Law.aspx?d=76265",
  "website_law_id": 76265,
  "scrape_timestamp": "2026-05-22T21:50:49Z",
  "source_html_hash": "sha256:78bce994f4670021404d2d29c3ac33077241afbcb667b86c51934d4d1ce33f9e",
  "schema_version": "1.0.0"
}