Immunity for officers and directors

Sec. 15. Except for an act of fraud or intentional misconduct, an officer or director of the corporation is not individually liable for an act or omission regarding the exercise or performance of that person's duty to the corporation. [Pre-2007 Higher Education Recodification Citation: 20-12-21.2-8.] As added by P.L.2-2007, SEC.257.