New York § 5205 Liability of directors and members

New York Statutes

§ 5205 — Liability of directors and members

New York § 5205

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Art. 52Motor Vehicle Accident Indemnification Corporation

This text of New York § 5205 (Liability of directors and members) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Insurance § 5205 (2026).

Text

§ 5205. Liability of directors and members.

(a)No director shall be\nindividually liable for anything done or any liability incurred or\nassumed by virtue of this article and any such liability shall be\ncollectible only from the corporation.\n (b) No member shall be subject to any liability except for unpaid\nassessments.\n

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