Some jurisdictions permit the shareholders to amend the articles of incorporation to relieve directors of any financial liability for violations of the duty of:

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The duty of care requires that directors act with the care that a reasonably prudent person would exercise in similar circumstances. Allowing shareholders to amend the articles of incorporation to relieve directors of financial liability for violating this duty would be controversial, but it is possible in some jurisdictions. However, it would be much less likely for shareholders to be able to relieve directors of liability for breaches of loyalty or avoiding self dealing, as these are fundamental duties that directors owe to the corporation and its shareholders. Voting is also a fundamental duty of directors, and it is unlikely that shareholders could relieve them of liability for violating this duty.

Some Jurisdictions Permit the Shareholders to Amend the Articles of Incorporation