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

Oklahoma Statutes

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

Oklahoma § 18-867

Title 18Corporations

This text of Oklahoma § 18-867 (Director - Breach of fiduciary duty - Liability.) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 18, § 18-867 (2026).

Text

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.