Limitation of Personal Liability. No director or officer of the Corporation shall be personally liable to the Corporation or its stockholders for damages for breach of fiduciary duty as a director or officer; PROVIDED, HOWEVER, that the foregoing provision does not eliminate or limit the liability of a director or officer of the Corporation for: (a) Acts or omissions which involve intentional misconduct, fraud or a knowing violation of law; or (b) The payment of distributions in violation of NRS 78.300.
Appears in 6 contracts
Sources: Distribution Agreement (LTC Healthcare Inc), Distribution Agreement (LTC Properties Inc), Distribution Agreement (LTC Healthcare Inc)