Indiana Code 15-18-5-22. Liabilities of board; personal liability of members and employees
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Sec. 22. (a) Obligations incurred by the board and other liabilities and claims against the board may be enforced only against the assets of the board in the same manner as if it were a corporation. Liabilities for the debts or actions of the board may not arise against:
(2) a political subdivision (as defined in IC 34-6-2-110); or
(1) the state;
Terms Used In Indiana Code 15-18-5-22
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- board: refers to the Indiana dairy industry development board established by section 9 of this chapter. See Indiana Code 15-18-5-1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- person: means an individual, a partnership, a limited liability company, a public or private corporation, a political subdivision (as defined in IC 36-1-2-13), a cooperative, a society, an association, or a fiduciary. See Indiana Code 15-18-5-5
(3) a member, officer, employee, or agent of the board in an individual capacity.
(b) The members and employees of the board may not be held responsible individually to any person for errors in judgment, mistakes, or other acts either of commission or omission, as principal, agent, or employee, except for their own individual acts that result in the violation of any law.
(c) An employee of the board may not be held responsible individually for the act or omission of a member of the board.
(d) Any liability of the members of the board is several and not joint. A member of the board may not be held liable for the default of another member.
[Pre-2008 Recodification Citation: 15-6-4-22.]
As added by P.L.2-2008, SEC.9.