§ 12:1824 — Benefit officer

Louisiana § 12:1824

• Jurisdiction: Louisiana
• Title 12: Conservation of Cultural Resources

Text

A. A benefit corporation may have an officer designated as the benefit officer.
B. A benefit officer shall have all of the following:
(1) The powers and duties relating to the purpose of the corporation to create a general public benefit or specific public benefit provided by the bylaws or, absent controlling provisions in the bylaws, by resolutions or orders of the board of directors.
(2) The duty to prepare the benefit report required by R.S. 12:1831.
C. An officer shall not be personally liable for monetary damages for any of the following:
(1) Any act or omission covered by a provision in the articles of incorporation that eliminates or limits the liability of the officer as authorized in R.S. 12:24(C)(4).
(2) Any act or omission as an officer if the officer performed the duties of office pursuant to R.S. 12:91.
(3) Failure of the benefit corporation to pursue or create general public benefit or a specific public benefit.

Legislative History

Acts 2012, No. 442, §1.