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

Question

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A cap on monetary damages statute places a 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 a Ceiling on Director Liability for Breach