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

Maine Statutes

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

Maine § 13-C §832

Title 13-CMAINE BUSINESS CORPORATION ACT

Ch. 8DIRECTORS AND OFFICERS

This text of Maine § 13-C §832 (Standards of liability for directors) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 13-C, § 13-C §832 (2026).

Text

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:

Free access — add to your briefcase to read the full text and ask questions with AI

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: