§ 42-64.10-8. Liability of the corporation.
The corporation is, subject to the period of limitations set forth in § 9-1-25, liable in actions of tort only to the extent that those actions do not arise from the performance of any functions found or deemed to be essential or discretionary governmental functions. Any recovery in an action or any recovery by any person in one or more of any actions against the corporation, its directors, employees, or agents, shall not exceed one hundred thousand dollars ($100,000) per plaintiff in the absence of fraud or willful misconduct. In the absence of fraud or willful misconduct, the directors are not personally liable to any party on account of any action (whether tort or otherwise) arising from or related to the manner or terms of the disposition of the corporation’s assets, nor shall the manner or terms of the disposition constitute a defense to any obligation owed to the corporation.
History of Section.P.L. 2004, ch. 351, § 3; P.L. 2004, ch. 360, § 3.
Structure Rhode Island General Laws
Title 42 - State Affairs and Government
Chapter 42-64.10 - Quonset Development Corporation
Section 42-64.10-1. - Short title.
Section 42-64.10-2. - Creation.
Section 42-64.10-3. - Purposes.
Section 42-64.10-4. - Definitions.
Section 42-64.10-5. - General powers.
Section 42-64.10-6. - Additional general powers and duties.
Section 42-64.10-7. - Directors, officers and employees.
Section 42-64.10-8. - Liability of the corporation.
Section 42-64.10-9. - Reporting.
Section 42-64.10-10. - Compliance.
Section 42-64.10-11. - Consistency with other statutes.
Section 42-64.10-12. - Inconsistent provisions.
Section 42-64.10-13. - Construction — Liberal construction.
Section 42-64.10-14. - Severability.
Section 42-64.10-15. - Dissolution of the Quonset/Davisville Management Corporation.