North Carolina Statutes
§ 54B-103 — Duties and liabilities of officers and directors to their associations
Officers and directors of a State association shall act in a fiduciary capacity towards the association and its members or stockholders. They shall discharge duties of their respective positions in good faith, and with that diligence and care which ordinarily prudent men would exercise under similar circumstances in like positions. (1981, c. 282, s. 3.)
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Nearby Sections
15
§ 54B-1
Title§ 54B-10
Certificate of incorporation§ 54B-100
Membership of a mutual association§ 54B-101
Directors§ 54B-102
Employment policies§ 54B-104
Conflicts of interest§ 54B-105
Voting rights§ 54B-106
Annual meetings; notice required§ 54B-107
Special meetings; notice required§ 54B-108
Quorum§ 54B-109
Indemnification§ 54B-110
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