14-I TIPS Amendment No. 1 - Laserfiche WebLink

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02/03/04 16:41 FAX 225 922 5058 TURNER INDUSTRIES, LTl), [~006 ARTICLE SIX The management of the Company is hereby reserved to the Managers and the names and addresses of such managers are as follows: Bert $. Turner 8687 United Plaza Blvd. Baton Rouge, LA 70809 Roland M. Toups 8687 United Plaza Blvd. Raton Rouge, LA 70809 R. L. Pearson 8687 United Plaza Blvd. Baton Rouge, LA 70809 ARTICLE SEVEN The name and address of the organizer is United Plaza Blvd., Baton Roup¢, LA 70809. ARTICLE EigHT R. L. Pearson, 8687 To the full extent permitted by Texas law, no member of the Company shall be liable to the Company or the other members for monetary damages for an act or omission in euch member's capacity as a member of the Company, ?~.cept that this Article does not eliminate or limit the liabilzty of a member to the extent the member is found liable for (i) a breach of the member,s ~ut~ of loyalty to the Company or its members; (ii) an act or omission not in good faith that constitutes a breach of duty of the member tO the Company or an act or omission that involves intentional misconduct or a knowing violation of the law~ (iii) a transaction from which the member received an improper benefit whether or not the benefit resulted from an ac~iQn taken wi~hi~ ~e scope of ~h¢ m~mber's ~ic~; Or (iv) an act or omission for which the liability of a member is expressly provided by an applicable statu~e. Any repeal or amendment of ~his Article by the members of the Company shall be prospective only and shall not adversely affect any limitation on the liability of a member of the Company existing at the time of such repeal or amendment. In addition to the circumstances in which the member of the Company is not liable as set forth in the preceding sentences, the liability of a member shall be further limited by any provision of the statutes of Texas hereafter enacted that further limit~ the liability of a me~be~ or manager of a limited liability company or of a director of a corporation. The foregoing limitation of a member's liability tO the Company or the other members for monetary damages shall not be deemed exclusive of any other rights or limitations of liability or indemnity to which a member may be entitled under any other provision of the Articlu~ o£ 0rganiza~ion or the Regulations of the Company, contract or agreement, vote of members and/or disinterested member~ of the Company, or otherwise.