§5–417.

    (a)    In this section, “act” has the meaning stated in § 2–405.1 of the Corporations and Associations Article.

    (b)    A present or former director of a corporation who while a director acts or acted in accordance with the standard of conduct provided in § 2–405.1 of the Corporations and Associations Article has no liability in any action based on an act of the director.