Idaho Code 43-204B – Bylaw Limiting Director Liability Authorized
Current as of: 2023 | Check for updates
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The bylaws of the district may set forth a provision eliminating or limiting the personal liability of a director to the district or its qualified electors for monetary damages for breach of fiduciary duty as a director, provided that such provision shall not eliminate or limit the liability of a director:
(a) For any breach of the director’s duty of loyalty to the district or its qualified electors.
Terms Used In Idaho Code 43-204B
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Fiduciary: A trustee, executor, or administrator.
(b) For acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law.
(c) For any transaction from which the director derived an improper personal benefit.
No such provision shall eliminate or limit the liability of a director for any act or omission occurring prior to the date when such provision becomes effective.