Oklahoma § 18-867 Director - Breach of fiduciary duty - Liability.

Oklahoma Statutes

§ 18-867 — Director - Breach of fiduciary duty - Liability.

Oklahoma·Title 18 Corporations

In addition to the immunity provisions of Section 866 of Title 18 of the Oklahoma Statutes, no member of the board of directors of a nonprofit corporation shall be personally liable to the corporation, or members thereof, for monetary damages for breach of fiduciary duty as a director, provided that such immunity from liability shall not extend to: 1. any breach of the director's duty of loyalty to the corporation; or 2. any acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of the law; or 3. any transaction from which the director derived an improper personal benefit.

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In addition to the immunity provisions of Section 866 of Title 18 of the Oklahoma Statutes, no member of the board of directors of a nonprofit corporation shall be personally liable to the corporation, or members thereof, for monetary damages for breach of fiduciary duty as a director, provided that such immunity from liability shall not extend to: 1. any breach of the director's duty of loyalty to the corporation; or 2. any acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of the law; or 3. any transaction from which the director derived an improper personal benefit.

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