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Iowa Code § 497.33

Personal liability

Applied in 1 court decision — leading case Pamela Sue Hook v. Tito Trevino, Individually, and Tito Trevino D/B/A Trevino Law Offices (2013)

Most recently applied in Pamela Sue Hook v. Tito Trevino, Individually, and Tito Trevino D/B/A Trevino Law Offices (November 2013)

Except as otherwise provided in this chapter, a director, officer, employee, or member of the corporation is not liable on the corporation’s debts or obligations and a director, officer, member, or other volunteer is not personally liable in that capacity, for a claim based upon any action taken, or any failure to take action in the discharge of the person’s duties, except for the amount of a financial benefit received by the person to which the person is not entitled, an intentional infliction of harm on the corporation or its members, or an intentional violation of criminal law.

87 Acts, ch 212, §6; 2003 Acts, ch 66, §11; 2004 Acts, ch 1086, §80

Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.