(805 ILCS 315/15.8)
(from Ch. 32, par. 454.8)
Limited Liability of directors.
(a) No director
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 such director unless: (1) such director earns in excess of $5,000 per
year from his duties as director, other than reimbursement for actual
expenses; or (2) the act or omission involved willful or
(b) As used in this Section "willful or wanton conduct" means a course
of action which shows an actual or deliberate intention to cause harm or
which, if not intentional, shows as utter indifference to or conscious
disregard for the safety of others or their property.
(c) Nothing in this Section is intended to bar any cause of action
against the corporation or
change the liability of the corporation arising out of an act or omission
of a director exempt from liability for negligence under this Section.
(Source: P.A. 85-867.)