House Amendment 1113


PAG LIN




     1  1    Amend House File 607 as follows:
     1  2 #1.  Page 10, line 5, by inserting after the word
     1  3 <company> the following:  <and foreign limited
     1  4 liability company>.
     1  5 #2.  Page 11, line 1, by striking the figure
     1  6 <504A.1706> and inserting the following:  <504A.1705>.
     1  7 #3.  Page 11, line 13, by striking the figure
     1  8 <504A.1706> and inserting the following:  <504A.1705>.
     1  9 #4.  Page 11, line 20 by striking the figure
     1 10 <504A.1706> and inserting the following:  <504A.1705>.
     1 11 #5.  Page 17, by inserting after line 4, the
     1 12 following:
     1 13    <   .  A provision eliminating or limiting the
     1 14 liability of a director to the corporation or its
     1 15 members for money damages for any action taken, or any
     1 16 failure to take any action, as a director, except
     1 17 liability for any of the following:
     1 18    (1)  The amount of a financial benefit received by
     1 19 a director to which the director is not entitled.
     1 20    (2)  An intentional infliction of harm on the
     1 21 corporation or its members.
     1 22    (3)  A violation of section 504A.834.
     1 23    (4)  An intentional violation of criminal law.
     1 24    A provision set forth in the articles of
     1 25 incorporation pursuant to this paragraph shall not
     1 26 eliminate or limit the liability of a director for an
     1 27 act or omission that occurs prior to the date when the
     1 28 provision becomes effective.>
     1 29 #6.  Page 29, line 4 by striking the word <members>
     1 30 and inserting the following:  <such a member>.
     1 31 #7.  Page 61, line 1, by striking the word
     1 32 <therefore> and inserting the following:  <therefor>.
     1 33 #8.  Page 76, line 34, by inserting after the word
     1 34 <or> the following:  <other>.
     1 35 #9.  Page 77, line 1, by inserting after the word
     1 36 <action> the following:  <in the discharge of the
     1 37 person's duties>.
     1 38 #10.  Page 77, line 3, by inserting after the word
     1 39 <is> the following:  <not>.
     1 40 #11.  Page 84, line 33, by inserting after the word
     1 41 <class,> the following:  <or the articles or bylaws
     1 42 provide otherwise,>.
     1 43 #12.  By renumbering as necessary.
     1 44
     1 45
     1 46                               
     1 47 MADDOX of Polk
     1 48 HF 607.501 80
     1 49 av/pj
   1 50

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