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The Cap on Monetary Damages Statute Holds That the Maximum

Question 24

Multiple Choice

The cap on monetary damages statute holds that the maximum liability that may be imposed on directors is the greater of:

A) $100,000 or the amount of cash compensation that the director received from the corporation during the previous 24 months.
B) $100,000 or the amount of cash compensation that the director received from the corporation during the previous 12 months.
C) $50,000 or the amount of cash compensation that the director received from the corporation during the previous 12 months.
D) $100,000 or the amount of cash compensation that the director received from the corporation during the previous 36 months.

Correct Answer: