Expansion, Restriction, Or Elimination of Duties and Liabilities

Sec. 101.401. EXPANSION, RESTRICTION, OR ELIMINATION OF DUTIES AND LIABILITIES. The company agreement of a limited liability company may expand, restrict, or eliminate any duties, including fiduciary duties, and related liabilities that a member, manager, officer, or other person has to the company or to a member or manager of the company. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by: Acts 2025, 89th Leg., R.S., Ch. 21 (S.B. 29), Sec. 18, eff. May 14, 2025.