Section 5-5A-47

Liability of directors for knowing and willful violation.

If the directors of any bank shall knowingly and willfully violate or knowingly and willfully permit any of the officers, agents or employees of the bank to violate any of the provisions of Title 5A, each and every director participating in or assenting to the same shall be held liable in his personal and individual capacity for all damages which the bank, its stockholders or any other person shall have sustained in consequence of such violation.

(Acts 1980, No. 80-658, §5-5-47.)