A _____ places ceiling on director liability for breach of duty; the board and the shareholders,however,may amend the corporate charter to reduce the cap.

Question

Quizplus · Accepted Answer

Cap on monetary damages statute places ceiling on director liability for breach of duty. This statute has a charter option quality in that the board and shareholders of a corporation may amend the corporate charter to reduce the cap (they may not increase it).

A _____ Places Ceiling on Director Liability for Breach of Duty;