Md. Code Ann., Cts. & Jud. Proc. § 5-417
Corporate directors
Effective Oct 1, 2016Added as Courts and Judicial Proceedings § 5-348 by Acts 1990, c. 546, § 3, eff. Oct. 1, 1990. Renumbered as Courts and Judicial Proceedings § 5-417 by Acts 1997, c. 14, § 9, eff. April 8, 1997. Amended by Acts 2016, c. 170, § 1, eff. Oct. 1, 2016; Acts 2016, c. 171, § 1, eff. Oct. 1, 2016.State of Maryland
- (a) In this section, “act” has the meaning stated in § 2-405.1 of the Corporations and Associations Article.
- (b) A present or former director of a corporation who while a director acts or acted in accordance with the standard of conduct provided in § 2-405.1 of the Corporations and Associations Article has no liability in any action based on an act of the director.
Added as Courts and Judicial Proceedings § 5-348 by Acts 1990, c. 546, § 3, eff. Oct. 1, 1990. Renumbered as Courts and Judicial Proceedings § 5-417 by Acts 1997, c. 14, § 9, eff. April 8, 1997. Amended by Acts 2016, c. 170, § 1, eff. Oct. 1, 2016; Acts 2016, c. 171, § 1, eff. Oct. 1, 2016.