Kansas Statutes 9-1132. Personal liability of officers and directors, exceptions
Terms Used In Kansas Statutes 9-1132
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
Except for persons who are executive officers, an officer or director of a bank or national banking association shall have no personal liability to the bank, association or the bank’s or association’s stockholders for monetary damages for breach of duty as an officer or director, except that such liability shall not be eliminated for:
(a) Any breach of the officer’s or director’s duty of loyalty to the bank, association or the bank’s or association’s stockholders;
(b) acts or omissions which constitute willful or gross and wanton negligent breach of the officer’s or director’s duty of care;
(c) acts in violation of Kan. Stat. Ann. § 9-910, 9-911 or 9-912, and amendments thereto; or
(d) any transaction from which the officer or director derived an improper personal benefit.