Statutes > Arkansas Statutes > Title 15 - Natural Resources and Economic Development > Subtitle 1 - Development Of Economic And Natural Resources Generally > Chapter 4 - Development Of Business And Industry Generally > Subchapter 10 - Arkansas Capital Development Company Act > § 15-4-1009 - Liability of governing board and officers.

§ 15-4-1009 - Liability of governing board and officers.

15-4-1009. Liability of governing board and officers.

No member of the governing board and no officer, manager, or other person responsible for carrying out the daily operations of a capital development company shall be responsible for any loss of assets of the company unless the loss was occasioned by the willful misconduct of that person.