Maine § 13-C §843 Standards of conduct for officers

Maine Statutes

§ 13-C §843 — Standards of conduct for officers

Maine·Title 13-C MAINE BUSINESS CORPORATION ACT·Ch. 8 DIRECTORS AND OFFICERS

1.Basic standard of conduct. An officer, when performing in the capacity of an officer, has the duty to act:

2.Basis for reliance. 2-A. Basis for reliance. In discharging the duties under section 842, an officer who does not have knowledge that makes reliance unwarranted is entitled to rely on:

3.Basis for potential liability. An officer is not liable to the corporation or its shareholders for any decision to take or not to take action, or any failure to take any action, as an officer if the duties of the office are performed in compliance with this section. Whether an officer who does not comply with this section has liability depends on applicable law, including those principles of section 832 that have relevance.

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1.
Basic standard of conduct.
An officer, when performing in the capacity of an officer, has the duty to act:
2.
Basis for reliance.
2-A.
Basis for reliance.
In discharging the duties under section 842, an officer who does not have knowledge that makes reliance unwarranted is entitled to rely on:
3.
Basis for potential liability.
An officer is not liable to the corporation or its shareholders for any decision to take or not to take action, or any failure to take any action, as an officer if the duties of the office are performed in compliance with this section. Whether an officer who does not comply with this section has liability depends on applicable law, including those principles of section 832 that have relevance.

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