Report Title:

Nonprofit Corporations; Director's Liability

 

Description:

Immunizes directors of nonprofit corporations from liability for actions taken on behalf of the corporation.

 

THE SENATE

S.B. NO.

928

TWENTY-FIRST LEGISLATURE, 2001

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

RELATING TO NONPROFIT CORPORATIONS.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. Chapter 415B, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:

"415B-   Director's liability. Notwithstanding any other provision of law, a person who serves without remuneration or expectation of remuneration as director of a corporation organized under this chapter shall not be liable for any civil damages resulting from the person's acts or omissions taken while that person acted on behalf of the corporation as a director."

SECTION 2. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval.

INTRODUCED BY:

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