Alabama Statutes
§ 37-4-3 — Officers and Directors Occupy Fiduciary Relationship
Alabama § 37-4-3
JurisdictionAlabama
Title 37Public Utilities and Public Transportation
Ch. 4Public Utilities Other Than Transportation Companies or Motor Vehicle Carriers
Art. 1Rate and Other Regulations
This text of Alabama § 37-4-3 (Officers and Directors Occupy Fiduciary Relationship) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Ala. Code § 37-4-3 (2026).
Text
The officers and directors of every corporation operating as a utility shall be deemed to stand in a fiduciary relation to the corporation, and shall discharge the duties of their respective offices or positions in good faith and with that diligence, care and skill which ordinary prudent men would exercise under similar circumstances and conditions.
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Legislative History
(Acts 1932, Ex. Sess., No. 232, p. 233; Code 1940, T. 48, §305.)
Nearby Sections
15
§ 37-1-1
Commission Established§ 37-1-100
Effective Date of Orders§ 37-1-101
Modification of Orders§ 37-1-102
Record of Proceedings§ 37-1-105
Rehearing§ 37-1-122
Time for Appeal; How Appeal PerfectedCite This Page — Counsel Stack
Bluebook (online)
Alabama § 37-4-3, Counsel Stack Legal Research, https://law.counselstack.com/statute/al/37-4-3.