https://www.taxtmi.com/acts?id=12672 A limited company may provide in its memorandum that a director's or manager's liability is unlimited. If liability is unlimited, any proposal for appointment must state that the officeholder's liability will be unlimited and, before acceptance or acting, a written notice of unlimited liability must be given by promoters, directors, manager or officers; default in making the statement or giving the notice attracts a fine and liability for any damage caused by the default, without affecting the appointee's liability. en-us Fri, 13 May 2011 18:57:15 +0530 Fri, 13 May 2011 18:57:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12672 A limited company may provide in its memorandum that a director's or manager's liability is unlimited. If liability is unlimited, any proposal for appointment must state that the officeholder's liability will be unlimited and, before acceptance or acting, a written notice of unlimited liability must be given by promoters, directors, manager or officers; default in making the statement or giving the notice attracts a fine and liability for any damage caused by the default, without affecting the appointee's liability. Act-Rules Companies Law Fri, 13 May 2011 18:57:15 +0530 https://www.taxtmi.com/acts?id=12672