8.15.130 Liability for unlawful distributions.
(a) A director’s vote for, or assent to, a distribution made in violation of the Yurok Tribe Business Corporations Code, or the articles of incorporation, shall render the director personally liable to the corporation for the amount of distribution in excess of the value of the distribution had no violation occurred.
(b) A director held liable for an unlawful distribution under subsection (a) of this section is entitled to contributions:
(1) From every other director who voted for, or assented to, the distribution without complying with the applicable standards of conduct; and
(2) From each shareholder in the amount the shareholder accepted knowing the distribution was made in violation of the Yurok Tribe Business Corporations Code or the articles of incorporation. [Ord. 18 Part III § 13, adopted, 10/7/2008.]