§414D-152 - Liability for unlawful distributions.
[§414D-152] Liability for unlawfuldistributions. (a) Unless a director complies with the applicablestandards of conduct described in section 414D‑149, a director who votesfor or assents to a distribution made in violation of this chapter shall be personallyliable to the corporation for the amount of the distribution that exceeds whatcould have been distributed without violating this chapter.
(b) A director held liable for an unlawfuldistribution under subsection (a) is entitled to contribution from:
(1) Every other director who voted for or assented tothe distribution without complying with the applicable standards of conductdescribed in section 414D‑149; and
(2) Each person who received an unlawful distributionfor the amount of the distribution whether or not the person receiving thedistribution knew it was made in violation of this chapter. [L 2001, c 105, ptof §1]