4.24.264 - Boards of directors or officers of nonprofit corporations -- Liability -- Limitations. - Washington Statutes

Boards of directors or officers of nonprofit corporations — Liability — Limitations.

(1) Except as provided in subsection (2) of this section, a member of the board of directors or an officer of any nonprofit corporation is not individually liable for any discretionary decision or failure to make a discretionary decision within his or her official capacity as director or officer unless the decision or failure to decide constitutes gross negligence.

     (2) Nothing in this section shall limit or modify in any manner the duties or liabilities of a director or officer of a corporation to the corporation or the corporation's members.

[1987 c 212 § 1101; 1986 c 305 § 903.]

Notes: Preamble -- Report to legislature -- Applicability -- Severability -- 1986 c 305: See notes following RCW 4.16.160.