Tennessee § 43-38-611 - Limitation of director's liability.
Full text of Tennessee Tennessee Code Annotated § 43-38-611 — Limitation of director's liability., with citation guidance and answers to common questions.
§ 43-38-611. Limitation of director's liability.
A 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, except as provided in subsection (b). The articles may not eliminate or limit the liability of a director for: A breach of the director's duty of loyalty to the cooperative or its members; Acts or omissions that are not in good faith or involve intentional misconduct or a knowing violation of law; A transaction from which the director derived an improper personal benefit; or An act or omission occurring before the date when the provision in the articles eliminating or limiting liability becomes effective. Acts 2004, ch. 534, § 25.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 43-38-611
What does Tennessee Code Annotated § 43-38-611 cover?
Section 43-38-611 ("Limitation of director's liability.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 43-38-611?
A common citation format is "Tennessee Code Annotated § 43-38-611" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 43-38-611 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.