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§ 865. Liability of directors--Findings of Legislature

Oklahoma Statutes AnnotatedTitle 18. Corporations

Oklahoma Statutes Annotated
Title 18. Corporations (Refs & Annos)
Chapter 19. Nonprofit Corporations
18 Okl.St.Ann. § 865
§ 865. Liability of directors--Findings of Legislature
The Legislature finds that nonprofit corporations serve important functions in providing services and assistance to persons in the state and that in order for these nonprofit corporations to function effectively, persons serving on the board of directors should not be subject to vicarious liability for the negligence of corporate employees or other directors. The Legislature finds that potential exposure to vicarious liability has a detrimental effect on the participation of persons as directors of nonprofit corporations and that providing immunity to directors of such corporations for certain types of liability will promote the general health, safety and welfare of citizens in the state.

Credits

Laws 1986, c. 195, § 1, eff. Nov. 1, 1986.
18 Okl. St. Ann. § 865, OK ST T. 18 § 865
Current with emergency effective legislation through Chapter 316 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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