Montana § 35-1-1409 Officers -- Duty -- Limits

Montana Statutes

§ 35-1-1409 — Officers -- Duty -- Limits

Montana § 35-1-1409

Title 35CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

Ch. 1MONTANA BENEFIT CORPORATION ACT

Part 14Benefit Corporations

This text of Montana § 35-1-1409 (Officers -- Duty -- Limits) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 35-1-1409 (2026).

Text

35-1-1409 . Officers -- duty -- limits.

(1)Each officer of a benefit corporation shall consider the interests and factors described in 35-1-1406 in the manner provided in 35-1-1406 whenever the officer:

(a)has discretion to act with respect to a matter; and

(b)reasonably believes that the matter may have a material effect on:

(i)the creation of general public benefit or a specific public benefit by the benefit corporation; or

(ii)any of the interests or factors referred to in 35-1-1406 (2).

(2)The consideration by an officer of interests and factors in the manner described in subsection (1) does not constitute a violation of the duties of the officer.

(3)An officer is not liable for monetary damages under this part for:

(a)any action taken as an officer if the officer performed the

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35-1-1409 . Officers -- duty -- limits. (1) Each officer of a benefit corporation shall consider the interests and factors described in 35-1-1406 in the manner provided in 35-1-1406 whenever the officer:
(a) has discretion to act with respect to a matter; and
(b) reasonably believes that the matter may have a material effect on:
(i) the creation of general public benefit or a specific public benefit by the benefit corporation; or
(ii) any of the interests or factors referred to in 35-1-1406 (2).
(2) The consideration by an officer of interests and factors in the manner described in subsection (1) does not constitute a violation of the duties of the officer.
(3) An officer is not liable for monetary damages under this part for:
(a) any action taken as an officer if the officer performed the duties of the position in compliance with this section; or
(b) any failure of the benefit corporation to create general public benefit or a specific public benefit.
(4) An officer does not have a fiduciary duty to a person who is a beneficiary of the general public benefit purpose or a specific public benefit purpose of a benefit corporation arising from the status of the person as a beneficiary.