2010 Pennsylvania Code
Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
Chapter 17 - Officers, Directors and Shareholders
1713 - Personal liability of directors.

     § 1713.  Personal liability of directors.
        (a)  General rule.--If a bylaw adopted by the shareholders of
     a business corporation so provides, a director shall not be
     personally liable, as such, for monetary damages for any action
     taken unless:
            (1)  the director has breached or failed to perform the
        duties of his office under this subchapter; and
            (2)  the breach or failure to perform constitutes self-
        dealing, willful misconduct or recklessness.
        (b)  Exceptions.--Subsection (a) shall not apply to:
            (1)  the responsibility or liability of a director
        pursuant to any criminal statute; or
            (2)  the liability of a director for the payment of taxes
        pursuant to Federal, State or local law.
        (c)  Cross reference.--See 42 Pa.C.S. § 8332.5 (relating to
     corporate representatives).
     (Dec. 18, 1992, P.L.1333, No.169, eff. 60 days)

        1992 Amendment.  Act 169 amended subsec. (b).
        Cross References.  Section 1713 is referred to in sections
     1504, 1505, 1553, 8943 of this title.