Okla. Stat. tit. 18, § 18-866
This is the official text of Okla. Stat. tit. 18, § 18-866, part of Oklahoma’s Stat. tit. 18, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 18,." Browse the sections below, each linked to its official government source.
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Immunity of directors - Scope and extent
Official statutory text
A. Except as otherwise provided by this section, no member of
the board of directors of a nonprofit corporation that holds a valid
exemption from federal income taxation issued pursuant to Section
501(a) of the Internal Revenue Code (26 U.S.C. Section 501(a)) or
Section 528 of the Internal Revenue Code (26 U.S.C. Section 528) and
is listed as an exempt organization in Section 501(c) of the
Oklahoma Statutes - Title 18. Corporations Page 282
Internal Revenue Code (26 U.S.C. Section 501(c)) or files as such
pursuant to Section 528 of the Internal Revenue Code shall be held
personally liable for damages resulting from:
1. any negligent act or omission of an employee of the
nonprofit corporation; or
2. any negligent act or omission of another director.
B. The immunity provided by subsection A of this section shall
not extend to intentional torts or grossly negligent acts or
omissions personal to any director of the nonprofit corporation.
C. If a nonprofit corporation transfers assets to a member of
the board of directors of such corporation or to another nonprofit
corporation in order to avoid claims against corporate assets
resulting from a judgment rendered as a result of a suit to recover
damages for the negligence of the corporation, a corporate employee
or a director, the director to whom the asset is transferred or any
director of the corporation from which assets are transferred to
avoid such claims may be held personally liable for any such
judgment rendered and the immunity provided by this section shall be
of no force or effect.
D. The provisions of this section shall only apply to suits for
recovery of damages based upon causes of action that accrue on or
after the effective date of this act.
the board of directors of a nonprofit corporation that holds a valid
exemption from federal income taxation issued pursuant to Section
501(a) of the Internal Revenue Code (26 U.S.C. Section 501(a)) or
Section 528 of the Internal Revenue Code (26 U.S.C. Section 528) and
is listed as an exempt organization in Section 501(c) of the
Oklahoma Statutes - Title 18. Corporations Page 282
Internal Revenue Code (26 U.S.C. Section 501(c)) or files as such
pursuant to Section 528 of the Internal Revenue Code shall be held
personally liable for damages resulting from:
1. any negligent act or omission of an employee of the
nonprofit corporation; or
2. any negligent act or omission of another director.
B. The immunity provided by subsection A of this section shall
not extend to intentional torts or grossly negligent acts or
omissions personal to any director of the nonprofit corporation.
C. If a nonprofit corporation transfers assets to a member of
the board of directors of such corporation or to another nonprofit
corporation in order to avoid claims against corporate assets
resulting from a judgment rendered as a result of a suit to recover
damages for the negligence of the corporation, a corporate employee
or a director, the director to whom the asset is transferred or any
director of the corporation from which assets are transferred to
avoid such claims may be held personally liable for any such
judgment rendered and the immunity provided by this section shall be
of no force or effect.
D. The provisions of this section shall only apply to suits for
recovery of damages based upon causes of action that accrue on or
after the effective date of this act.
Status: in_force · Read it on the official government site
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