Okla. Stat. tit. 18, § 18-867
This is the official text of Okla. Stat. tit. 18, § 18-867, 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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Director - Breach of fiduciary duty - Liability
Official statutory 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.
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.
Status: in_force · Read it on the official government site
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