Arkansas § 4-36-303 Standard of conduct for officers

Arkansas Statutes

§ 4-36-303 — Standard of conduct for officers

Arkansas § 4-36-303

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This text of Arkansas § 4-36-303 (Standard of conduct for officers) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 4-36-303 (2026).

Text

(a)An officer of a benefit corporation shall consider the interests and factors described in § 4-36-301 if:

(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 the creation by the benefit corporation of a general public benefit or a specific public benefit identified in the articles of incorporation of the benefit corporation.

(b)The consideration of interests and factors described in subsection (a) of this section shall not constitute a violation of § 4-27-841 .

(c)An officer is not personally liable for monetary damages for:

(1)An action or omission as an officer if the officer performed the duties of the position in compliance with § 4-27-841 and this section; or (2) Failure of the

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(a) An officer of a benefit corporation shall consider the interests and factors described in § 4-36-301 if: (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 the creation by the benefit corporation of a general public benefit or a specific public benefit identified in the articles of incorporation of the benefit corporation. (b) The consideration of interests and factors described in subsection (a) of this section shall not constitute a violation of § 4-27-841 . (c) An officer is not personally liable for monetary damages for: (1) An action or omission as an officer if the officer performed the duties of the position in compliance with § 4-27-841 and this section; or (2) Failure of the benefit corporation to pursue a general public benefit or a specific public benefit. (d) An officer does not have a duty to a person that is a beneficiary of a general public benefit purpose or a specific public benefit purpose of a benefit corporation arising from the status of the person as a beneficiary.