Section 41(2) in The State Financial Corporations Act, 1951
(2)A director shall not be responsible for any other director or for any officer or other employee of the Financial Corporation or for any loss or expenses resulting to the Financial Corporation by the insufficiency or deficiency of value of or title to any property or security acquired or taken on behalf of the Financial Corporation or by the wrongful act of any person under obligation to the Financial Corporation or by anything done in good faith in the execution of the duties of his office or in relation thereto.[41-A. Protection of action taken by persons appointed under section 27 or section 32-A.-No suit, prosecution or other legal proceeding shall lie against any person appointed as director, administrator, managing agent or manager by the Financial Corporation in pursuance of section 27 or section 32-A for anything which is in good faith done or intended to be done by him as such director, administrator, managing agent or manager.][41-B. Nomination in respect of deposits, bonds, etc.-
