The Delaware Corporation Code allows the certificate of incorporation to include a provision limiting or eliminating the personal liability of directors to the corporation or to its shareholders for monetary damages for breach of the duty of loyalty.

Question

Quizplus · Accepted Answer

The Delaware Corporation Code allows for the limitation or elimination of personal liability of directors for monetary damages for breaches of fiduciary duty, except for breaches of the duty of loyalty, acts or omissions not in good faith, intentional misconduct, or knowing violations of law.

The Delaware Corporation Code Allows the Certificate of Incorporation to Include