Synopsis As Introduced Amends the General Not For Profit Corporation Act of 1986. Limits the liability of a volunteer board member serving without compensation, other than reimbursement for actual expenses, for damages resulting from any action of the executive director concerning the false reporting of or intentional tampering with financial records of the organization, where the actions of the executive director result in legal action.
House Committee Amendment No. 1 Deletes everything after the enacting clause. Reinserts the provisions of the original bill with the following changes. Provides that the limitation of liability for volunteer board members does not apply to willful and wanton conduct. Provides that these limited liability provisions for volunteer board members do not apply to any action taken by the Attorney General to protect charitable assets or to enforce laws that apply to trustees of a charity. Removes the definition of "willful or wanton conduct".