US Laws, Codes, Statutes & Cases

§94.  Directors or shareholders not participating in unlawful act

A director or shareholder shall not be liable for the commission of a prohibited act if he was absent from the meeting of directors or shareholders, as the case may be, at which the action was authorized, or if he was present or represented at such meeting and his dissent therefrom was either noted in the minutes of the meeting or filed promptly thereafter in the registered office of the corporation.  

Acts 1968, No. 105, §1.