State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-356

§ 53‑356. Responsibility of directors.

(a)        The standard ofconduct for directors shall be as set forth in G.S. 55‑8‑30.

(b)        Any director of aState trust company who shall knowingly violate, or who shall knowingly permitto be violated by any officers, agents, or employees of such State trustcompany, any of the provisions of this Article shall be held personally andindividually liable for all damages which the State trust company, itsshareholders, or any other person has sustained in consequence of the violation.Any aggrieved shareholder of any State trust company in liquidation mayprosecute an action for the enforcement of the provisions of this section. Onlyone such action may be brought. The procedure shall follow, as much aspossible, that prescribed by Article 3 of Chapter 44A of the General Statutes,relative to suits on bonds of contractors with municipal corporations. (2001‑263, s. 1.)