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

Maine Statutes

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

Maine § 13-C §843

Title 13-CMAINE BUSINESS CORPORATION ACT

Ch. 8DIRECTORS AND OFFICERS

This text of Maine § 13-C §843 (Standards 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 §843 (2026).

Text

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.