(805 ILCS 110/47)
Sec. 47.
Liability.
(a) The members of a corporation organized under this Act shall not be
personally liable for any debt or obligation of the corporation.
(b) No director, officer, or trustee of a corporation organized under this
Act shall be liable,
and no cause of action may be brought, for damages resulting from the exercise
of
judgment or discretion in connection with the duties or responsibilities of
the director, officer, or trustee, unless (i) the director, officer, or trustee
earns in excess of $5,000 per year from
his or her duties as director, officer, or trustee, other than reimbursement
for actual expenses, or
(ii) the act or omission involved willful or wanton conduct.
(c) No person who, without compensation other than reimbursement for actual
expenses, renders services to or for a corporation organized under this Act
shall be liable, and no cause of action may be brought, for damages resulting
from an act or omission in rendering such services unless the act or omission
involved willful or wanton conduct.
(d) As used in this Section, "willful or wanton conduct" means a course of
action that shows an actual or deliberate intention to cause harm or that, if
not intentional, shows an utter indifference to or conscious disregard for the
safety of others or their property.
(e) Nothing in this Section is intended to bar any cause of action against
the corporation or to change the liability of the corporation arising out of
an
act or omission of any director, officer, or person exempt from liability for
negligence under this Section.
(Source: P.A. 89-81, eff. 1-1-96.)
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