Section 351.1078 - Personal liability of directors, limitations1. A director's personal liability to the cooperative or members for monetary damages for breach of fiduciary duty as a director may be eliminated or limited in the articles or bylaws except as provided in subsection 2 of this section.2. The articles or bylaws shall not eliminate or limit the liability of a director: (1) For a breach of the director's duty of loyalty to the cooperative or its members;(2) For acts or omissions that are not in good faith and involve intentional misconduct by the director;(3) For illegal distributions;(4) For a transaction from which the director derived an improper personal benefit; or(5) For an act or omission occurring before the date when the provision in the articles or bylaws eliminating or limiting liability becomes effective.