Personal liability of directors

Ind. Code § 5-1-17.5-20
in effect
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Sec. 20. The directors of the board are not subject to personal liability or accountability by reason of any act authorized by this chapter with respect to the: (1) issuance of any obligations; (2) execution of any lease or sublease; or (3) execution of any other agreement under this chapter. As added by P.L.233-2013, SEC.5.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/5Fetched: 10/17/2026