8.01-220.1:4 - Civil immunity for officers and directors of certain nonprofit organizations - Virginia Statutes

§ 8.01-220.1:4. Civil immunity for officers and directors of certainnonprofit organizations.

A. Directors and officers of any entity created to ensure the implementationin the Commonwealth of a national tobacco trust established to providepayments to tobacco growers and tobacco quota owners to ameliorate adverseeconomic consequences resulting from a national settlement of states' claimsagainst tobacco manufacturers shall be immune from civil liability for actstaken in their capacities as officers or directors of such entities.

B. The liability of an officer or director shall not be limited as providedin this section if the officer or director was grossly negligent or engagedin willful misconduct or a knowing violation of the criminal law.

(2000, c. 1048.)