[§420D-8] Standard of conduct for officers.
135 words·~1 min read·
/hi/420d-8A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
[§420D-8] Standard of conduct for officers.
(a)Each officer of a sustainable business corporation shall consider the interests and factors described in section 420D-6(a) in the manner provided in that section when:
(1)The officer has discretion to act with respect to a matter; and
(2)It reasonably appears to the officer that the matter may have a material effect on:
(A)The creation of a general or specific public benefit by the sustainable business corporation; or
(B)Any of the interests or factors referred to in section 420D-6(a).
(b)An officer shall not be personally liable for monetary damages for any action taken as an officer if the officer performed the duties of the position in compliance with the general standards of conduct pursuant to section 414-233. [L 2011, c 209, pt of §1]