Rhode Island General Laws 42-99-8. Limitation of liability
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In any tort action against the corporation, any damages recovered therein shall not exceed the sum of one hundred thousand dollars ($100,000).
History of Section.
P.L. 1987, ch. 455, § 8.
Terms Used In Rhode Island General Laws 42-99-8
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.