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8-7-707. Director and officer liability.
Arkansas Code — all titles (historical 2020) · legal_authorities
8-7-707. Director and officer liability.
No director or officer of a corporation whose sole purpose as stated in its articles of incorporation is to own, implement a response action at, or hold one (1) or more hazardous sites, shall be liable to any person or entity for any action of the corporation reasonably related to the stated purpose of the corporation. This section shall not apply to any action of the corporation resulting from the gross negligence or willful misconduct of a director or officer of said corporation.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 8-7-707
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:8-7-707
Source file: gov.ar.code.title.08.odt
Pages: Not recorded – Not recorded
Passage SHA-256: dc8064dad4bf1d33ba82f919696c6bf0f480ef33b6174884b1280f043e283503
Source location: content.xml paragraph 7908
Stored source content
8-7-707. Director and officer liability.
No director or officer of a corporation whose sole purpose as stated in its articles of incorporation is to own, implement a response action at, or hold one (1) or more hazardous sites, shall be liable to any person or entity for any action of the corporation reasonably related to the stated purpose of the corporation. This section shall not apply to any action of the corporation resulting from the gross negligence or willful misconduct of a director or officer of said corporation.
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