S-31.1 - Business Corporations Act

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156. Directors of a corporation who vote for or consent to a resolution authorizing any of the following are solidarily liable to restore to the corporation any amounts involved and not otherwise recovered by the corporation:
(1)  a payment of a commission contrary to section 58;
(2)  a transfer of not fully paid shares contrary to section 83;
(3)  a purchase, redemption or other acquisition of shares contrary to section 94, 95 or 96;
(4)  a payment of a dividend contrary to section 104;
(5)  a payment of an indemnity contrary to section 160; or
(6)  a payment to a shareholder contrary to the second paragraph of section 451.
2009, c. 52, s. 156.