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N.Y. Bus. Corp. Law § 1317

Liabilities of directors and officers of foreign corporations

Applied in 1 court decision — leading case Culligan Soft Water Co. v. Clayton Dubilier & Rice LLC (2014)

Most recently applied in Culligan Soft Water Co. v. Clayton Dubilier & Rice LLC (June 2014)

2014-09-22

§ 1317. Liabilities of directors and officers of foreign corporations.\n (a) Except as otherwise provided in this chapter, the directors and\nofficers of a foreign corporation doing business in this state are\nsubject, to the same extent as directors and officers of a domestic\ncorporation, to the provisions of:\n (1) Section 719 (Liability of directors in certain cases) except\nsubparagraph (a) (3) thereof, and\n (2) Section 720 (Action against directors and officers for\nmisconduct.)\n (b) Any liability imposed by paragraph (a) may be enforced in, and\nsuch relief granted by, the courts in this state, in the same manner as\nin the case of a domestic corporation.\n

Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.