§ 5–417
Statutes in effect as of October 1, 2026.
Md. Code Ann., Cts. & Jud. Proc. § 5-417 (2026)
Title 5. Limitations, Prohibited Actions, and Immunities
Subtitle 4. Immunities and Prohibited Actions -- Businesses, Associations, and Charities
§ 5–417LinkCopy Citation
(a)
In this section, “act” has the meaning stated in § 2–405.1 of the Corporations and Associations Article.
(b)
A present or former director of a corporation who while a director acts or acted in accordance with the standard of conduct provided in § 2–405.1 of the Corporations and Associations Article has no liability in any action based on an act of the director.