450.2556 Volunteer's acts or omissions; claim for monetary damages.
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450.2556 Volunteer's acts or omissions; claim for monetary damages.
Sec. 556.
If the corporation's articles of incorporation contain a provision authorized under section 209(e), then a claim for monetary damages for a volunteer director, volunteer officer, or other volunteer's acts or omissions shall not be brought or maintained against a volunteer director, volunteer officer, or other volunteer. The claim shall be brought and maintained against the corporation.
History: Add. 1993, Act 129, Imd. Eff. July 22, 1993 ;-- Am. 1996, Act 457 , Imd. Eff. Dec. 23, 1996
Compiler's Notes: In the first sentence of this section, “section 209(e)” evidently should read “section 209(1)(e).”