Maine § 13-C §832 Standards of liability for directors

Maine Statutes

§ 13-C §832 — Standards of liability for directors

Maine·Title 13-C MAINE BUSINESS CORPORATION ACT·Ch. 8 DIRECTORS AND OFFICERS

1.Basis for potential liability. A director of a corporation is not liable to the corporation or its shareholders for any decision to take or not to take action, or any failure to take any action, as a director, unless the party asserting liability in a proceeding establishes that:

2.Additional elements. In addition to the burden set forth in subsection 1, the party seeking to hold the director liable:

3.Other causes of action. This section does not:

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1.
Basis for potential liability.
A director of a corporation is not liable to the corporation or its shareholders for any decision to take or not to take action, or any failure to take any action, as a director, unless the party asserting liability in a proceeding establishes that:
2.
Additional elements.
In addition to the burden set forth in subsection 1, the party seeking to hold the director liable:
3.
Other causes of action.
This section does not:

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