Arkansas § 8-7-522 Liability for actions relating to remedial actions

Arkansas Statutes

§ 8-7-522 — Liability for actions relating to remedial actions

(a)No shareholder, director, or officer of a corporation or a grantor or trustee of a trust whose sole purpose, as stated in its articles of incorporation or its trust agreement, is to conduct remedial action at a hazardous substance site pursuant to an administrative or judicial order or settlement under § 8-7-508 shall be liable to any person for any action of the corporation or trust reasonably related to the stated purpose of the corporation or trust.

(b)This section shall not apply to any action of the corporation or trust resulting from the gross negligence or intentional misconduct of a shareholder, director, or officer of said corporation, or a grantor or trustee of said trust.

(c)Nothing in this section shall be construed to alter the liability of any person for the hazardous s

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(a) No shareholder, director, or officer of a corporation or a grantor or trustee of a trust whose sole purpose, as stated in its articles of incorporation or its trust agreement, is to conduct remedial action at a hazardous substance site pursuant to an administrative or judicial order or settlement under § 8-7-508 shall be liable to any person for any action of the corporation or trust reasonably related to the stated purpose of the corporation or trust. (b) This section shall not apply to any action of the corporation or trust resulting from the gross negligence or intentional misconduct of a shareholder, director, or officer of said corporation, or a grantor or trustee of said trust. (c) Nothing in this section shall be construed to alter the liability of any person for the hazardous substance site under this subchapter, nor shall the liability of any such person be expanded as a result of such person undertaking remedial action or serving as a shareholder, officer, or director of a corporation or as a grantor or trustee of a trust which undertakes remedial action pursuant to an administrative or judicial order or settlement under § 8-7-508 .

Arkansas § 8-7-522 (Liability for actions relating to remedial actions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.