Section 8-1-227 - Applicability of Article

(a) Nothing in this article affects any defense or immunity otherwise available under applicable law.(b) Nothing in this article shall reduce, void, or diminish any obligations or contractual obligations of any kind or nature between shareholders, owners, members, and officers of any entity that is governed by Title 10A.(c) Parties to a covered contract may disclaim the applicability of this article to their covered contract and thereby make this article inapplicable to their otherwise covered contract, provided the disclaimer expressly and plainly states that the parties to the covered contract are knowingly waiving this article.(d) If the parties exercise the right to disclaim the provisions of this article under subsection (c), this article shall not be the basis for any interpretation or determination of enforceability of any of the provisions of the otherwise covered contract entered into by the parties. (Act 2021-503, §8.)