Liability for unlawful distributions.

1. Unless a director complies with the applicable standards of conduct described in section 504.831 , a director who votes for or assents to a distribution made in violation of this chapter is personally liable to the corporation for the amount of the distribution that exceeds what could have been distributed without violating this chapter . 2. A director held liable for an unlawful distribution under subsection 1 is entitled to contribution from both of the following: a. Every other director who voted for or assented to the distribution without complying with the applicable standards of conduct described in section 504.831 . b. Each person who received an unlawful distribution for the amount of the distribution whether or not the person receiving the distribution knew it was made in violation of this chapter . 2004 Acts, ch 1049, §94, 192 ; 2005 Acts, ch 19, §98, 99 Referred to in §504.202 , 504.832 , 504.901