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2018 Indiana Code
TITLE 23. Business and other Associations
ARTICLE 1.3. BENEFIT CORPORATIONS
CHAPTER 6. Benefit Director
23-1.3-6-5. Immune from personal liability
Universal Citation: IN Code § 23-1.3-6-5 (2018)
IC 23-1.3-6-5 Immune from personal liability
Sec. 5. Regardless of whether the articles of incorporation or bylaws of a benefit corporation include a provision eliminating or limiting the personal liability of directors authorized by IC 23-1-37, a benefit director is not personally liable for an act or omission in the capacity of a benefit director unless the act or omission constitutes self-dealing (other than a conflict of interest transaction described in IC 23-1-35-2(a)), willful misconduct, recklessness, or a knowing violation of law.
As added by P.L.93-2015, SEC.3.
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