47-1A-830. Standards of conduct for directors.
86 words·~1 min read·
/sd/title-47/chapter-47-1/47-1a-830A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Each member of the board of directors, when discharging the duties of a director, shall act in good faith and in a manner the director reasonably believes to be in the best interests of the corporation. The members of the board of directors or a committee of the board, when becoming informed in connection with their decision-making function or devoting attention to their oversight function, shall discharge their duties with the care that a person in a like position would reasonably believe appropriate under similar circumstances.