Section 420-A:6 Liability of Directors, Officers, and Trustees.
I. A health service corporation may indemnify any person who serves as director, officer, or trustee of such corporation by contract or by including an indemnity provision in its articles of agreement or bylaws substantially in accordance with RSA 293-A:8.50 through RSA 293-A:8.58. Indemnity may be offered for any and all damages occurring on or after January 1, 1991.
II. A health service corporation may amend its articles of agreement to contain a provision eliminating or limiting the personal liability of a director, officer, or trustee to such corporation and its members and subscribers for monetary damages for breach of fiduciary duty as a director, an officer, or both, except with respect to:
(a) Any breach of the director's, officer's or trustee's duty of loyalty to the corporation and its members and subscribers.
(b) Acts or omissions which are not in good faith or which involve intentional misconduct or a knowing violation of law.
(c) Actions for which a director, officer, or trustee derived an improper personal benefit.
III. Paragraph II shall not be construed to eliminate or limit the liability of a director, an officer, a trustee or any combination thereof, for any act or omission occurring prior to July 13, 1991.
Source. 1997, 190:1, eff. Jan. 1, 1998.