7-7-3.2 - General limitation on liability. - Utah Statutes

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Statutes > Utah > Title-07 > Chapter-07 > 7-7-3-2

7-7-3.2. General limitation on liability.
A director or officer is not liable to the association, its stockholders, members, ordepositors, any conservator or receiver, or any assignee or successor-in-interest thereof, for anyaction taken, or any failure to take any action, as a director or officer, as the case may be, unless:
(1) he has breached or failed to perform the duties of the office in compliance with thistitle; and
(2) the breach or failure to perform constitutes gross negligence, willful misconduct, orintentional infliction of harm on the association, its stockholders, members, or depositors.

Enacted by Chapter 200, 1994 General Session

State Codes and Statutes

Statutes > Utah > Title-07 > Chapter-07 > 7-7-3-2

7-7-3.2. General limitation on liability.
A director or officer is not liable to the association, its stockholders, members, ordepositors, any conservator or receiver, or any assignee or successor-in-interest thereof, for anyaction taken, or any failure to take any action, as a director or officer, as the case may be, unless:
(1) he has breached or failed to perform the duties of the office in compliance with thistitle; and
(2) the breach or failure to perform constitutes gross negligence, willful misconduct, orintentional infliction of harm on the association, its stockholders, members, or depositors.

Enacted by Chapter 200, 1994 General Session

State Codes and Statutes

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State Codes and Statutes

Statutes > Utah > Title-07 > Chapter-07 > 7-7-3-2

7-7-3.2. General limitation on liability.
A director or officer is not liable to the association, its stockholders, members, ordepositors, any conservator or receiver, or any assignee or successor-in-interest thereof, for anyaction taken, or any failure to take any action, as a director or officer, as the case may be, unless:
(1) he has breached or failed to perform the duties of the office in compliance with thistitle; and
(2) the breach or failure to perform constitutes gross negligence, willful misconduct, orintentional infliction of harm on the association, its stockholders, members, or depositors.

Enacted by Chapter 200, 1994 General Session