§ 13-C §1821 — Standard of conduct for directors

1.
Consideration of interests.
In discharging the duties of their respective positions and in considering the best interests of the benefit corporation, the board of directors, committees of the board and individual directors of a benefit corporation shall consider the effects of any action or inaction upon:
2.
Coordination with other provisions of law.
The consideration of interests and factors in the manner provided by subsection 1 does not constitute a violation of section 832.
3.
Exoneration from personal liability.
Except as provided in the articles of incorporation, a director is not personally liable for monetary damages for:
4.
Limitation on standing.
A director does not have a duty to a person that is a beneficiary of general public benefit purpose or a specific public benefit purpose of a benefit corporation arising from the status of the person as a beneficiary.
5.
Business judgments.
A director who makes a business judgment in good faith fulfills the duty under this section if the director:

Legislative History

PL 2019, c. 328, §1 (NEW).