1987•bepress Legal RepositoryRequires access
CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS Corporate Officers and Directors: Provide Standard of Care and Amend Law on Indemnification
J. Shurling
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Abstract
HB 209 establishes a standard of care for corporate directors and officers in the performance of their duties; permits indemnification in certain instances for directors, officers, agents, and employees who are made a party to or threatened with litigation arising out of their activities for the corporation; permits inclusion in the articles of incorporation of a provision eliminating or limiting the personal liability of a director to the corporation or to the shareholder; and makes similar provisions for nonprofit organizations, railroad companies, and business corporations. July 1, 1987