204.303 Standard of conduct for officers.
172 words·~1 min read·
/wi/chapter-204/204-303-4A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
204.303 Standard of conduct for officers.
(1)General rule. Each officer of a benefit corporation shall consider the interests and factors described in s. 204.301
(1)in the manner provided in that subsection when the officer has discretion to act with respect to a matter and it reasonably appears to the officer that the matter may have a material effect on the creation of general or specific public benefit by the benefit corporation or on any of the interests or factors referred to in s. 204.301
(1).
(2)Coordination with other provisions of law. The consideration of interests and factors in the manner described in sub.
(1)shall not constitute a violation of s. 180.0841 or any other provision of ch. 180 .
(3)Exoneration from personal liability. An officer of a benefit corporation is not personally liable, as such, for monetary damages for any action taken as an officer if the officer performed the duties of the position in compliance with this section and the provisions of ch. 180 .