Section 47-11A-12.3 - Application of repealed provisions to acts, errors, or omissions occurring before July1, 2005.
47-11A-12.3. Application of repealed provisions to acts, errors, or omissions occurring before July 1, 2005. The repealed provisions contained in SL 2005, ch 240, that limited the liability of a shareholder, director, or officer of a professional corporation or member or manager of a limited liability company by limiting or eliminating the joint and several liability of such person for any act, error, or omission of an employee of the professional corporation or limited liability company by maintaining professional liability insurance meeting certain standards, shall remain in effect for any act, error, or omission, whether arising in contract, tort, or otherwise, occurring before July 1, 2005.
Source: SL 2005, ch 240, § 11.