Maine Statutes
§ 13-C §1823 — Standard of conduct for officers
Maine § 13-C §1823
This text of Maine § 13-C §1823 (Standard of conduct for officers) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Me. Rev. Stat. tit. 13-C, § 13-C §1823 (2026).
Text
1.General rule.
An officer of a benefit corporation shall consider the interests and factors described in section 1821, subsection 1 in the manner provided in section 1821, subsection 1 if:
2.Coordination with other provisions of law.
The consideration of interests and factors in the manner provided in subsection 1 does not constitute a violation of section 843.
3.Exoneration from personal liability.
Except as provided in the articles of incorporation, an officer is not personally liable for monetary damages for:
4.Limitation on standing.
An officer 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.
An officer
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Legislative History
PL 2019, c. 328, §1 (NEW).
Nearby Sections
15
§ 13 §1
Application§ 13 §101
Meetings by consent§ 13 §102
Meetings called by justice of peace§ 13 §103
Presiding officer§ 13 §1031
Unauthorized establishment; injunction§ 13 §1031-A
Definitions§ 13 §1032
Disposal of bodies§ 13 §1033
Vested rights§ 13 §1034
Jurisdiction§ 13 §1035
Penalties§ 13 §1036
Recovery of fines or penalties§ 13 §104
Proxies; general power of attorney§ 13 §105
Voting pledged stock§ 13 §107
New election if objections filedCite This Page — Counsel Stack
Bluebook (online)
Maine § 13-C §1823, Counsel Stack Legal Research, https://law.counselstack.com/statute/me/13-C%20%C2%A71823.