New York Racing, Pari-Mutuel Wagering and Breeding Law Section 202-A - Liability of the directors of a franchised corporation.

  202-a.  Liability of the directors of a franchised corporation. The
  directors of a franchised corporation, and any person or persons  acting
  on their behalf, while acting within the scope of their authority, shall
  be exempt from any personal liability resulting from carrying out any of
  the  powers  expressly  given  in  this  chapter,  except  for  acts  of
  malfeasance or gross negligence.

Last modified: February 3, 2019