Liability provision

(1) Where a loan is granted in breach of the provisions of section 15, the managers who breach their duties in doing so, and the members of the supervisory body who, despite having knowledge of it, wrongfully fail to act against an intended loan, are jointly and severally liable to the institution for the resulting damage; the managers and the members of the supervisory body must demonstrate that they did not act culpably.
(2) The institution's claim for damages may also be asserted by its creditors, insofar as they cannot obtain satisfaction from the institution. As against the creditors, the liability to pay damages is not extinguished either by a waiver or settlement by the institution, or by the fact that, for institutions in the legal form of a legal person, the granting of the loan is based on a resolution of the institution's supreme body (general meeting, shareholders' meeting).
(3) The claims under subsection (1) become time-barred after five years.