Insurance Law § 5205 · Article 52. Motor Vehicle Accident Indemnification Corporation
Liability of directors and members
Verbatim from the official edition
Text — Law content up to date as of October 2, 2026, as published by the New York State Senate (Open Legislation)
§ 5205. Liability of directors and members. (a) No director shall be individually liable for anything done or any liability incurred or assumed by virtue of this article and any such liability shall be collectible only from the corporation.
(b) No member shall be subject to any liability except for unpaid assessments.
Source of truth
- Edition
- Law content up to date as of October 2, 2026, as published by the New York State Senate (Open Legislation)
- Official file
- https://legislation.nysenate.gov/pdf/laws/ISC5205
- Text hash
- sha256 73c71aa86790add3c223def2188b5ecd144e54a82a74b657850eb32d17080faa
- Composed by
- gen_ny_statutes.py 2026-11-10: the Senate's Open Legislation law tree (GET /api/3/laws/<ID>?full=true) read in document order; the Senate's PDF of the whole law (GET /pdf/laws/<ID>?full=true), read with PDFium, prints the same words in the same order
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.