HB972 LIMITS LIABILITY OF PAID OFFICES OR PAID BOARD MEMBERS OF NOT FOR PROFIT CORPORATIONS.
Sponsor: Hohulin, Martin (Bubs) (126) Effective Date:00/00/0000
CoSponsor: Vogel, Carl (114) LR Number:2144-01
Last Action: 03/08/1999 - Referred: Judiciary (H)
HB972
Next Hearing:Hearing not scheduled
Calendar:Bill currently not on calendar
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BILL SUMMARIES

INTRODUCED

HB 972 -- Civil Liability

Co-Sponsors:  Hohulin, Vogel, Howerton, Purgason

This bill limits the civil liability of compensated officers and
board members of not for profit corporations.  If the officer or
board member receives a salary or prorated equivalent, the
officer or member may be liable for an amount not to exceed the
greater of $100,000 or 3 times the compensation received by the
person during the preceding year.


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