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.
‹ Prev All Oklahoma sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.