The articles of incorporation may contain provisions not inconsistent with law that eliminate or limit the personal liability of a director to the corporation or its shareholders for monetary damages for conduct as a director, provided that such provisions shall not eliminate or limit the liability of a director for acts or omissions that involve intentional misconduct by a director or a knowing violation of law by a director, for conduct violating RCW 23B.08.310, or for any transaction from which the director will personally receive a benefit in money, property, or services to which the director is not legally entitled. No such provision shall eliminate or limit the liability of a director for any act or omission occurring prior to the date when such provision becomes effective.
RCW 23B.08.320
Limitation on liability of directors.
Applied in 1 court decision — leading case 281 F. Supp. 2d 1227 - Grassmueck v. Barnett (2003)
Most recently applied in 281 F. Supp. 2d 1227 - Grassmueck v. Barnett (July 2003)
1989 c 165 s 99.
Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.