North Dakota § 10-33-56 Standard of conduct for officers

North Dakota Statutes

§ 10-33-56 — Standard of conduct for officers

North Dakota § 10-33-56

Title 10Corporations

Ch. 10-33Nonprofit Corporations

This text of North Dakota § 10-33-56 (Standard of conduct for officers) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 10-33-56 (2026).

Text

1.An officer shall discharge the duties of an office in good faith, in a manner the officer reasonably believes to be in the best interests of the corporation, and with the care an ordinarily prudent person in a like position would exercise under similar circumstances. An individual exercising the principal functions of an office or to whom some or all of the duties and powers of an office are delegated pursuant to section 10-33-55 is deemed an officer for purposes of this section and sections 10-33-81 and 10-33-84.

2.An officer is not considered to be a trustee with respect to the corporation or with respect to property held or administered by the corporation, including without limit, property that may be subject to restrictions imposed by the donor or transferor of the property.

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1. An officer shall discharge the duties of an office in good faith, in a manner the officer
reasonably believes to be in the best interests of the corporation, and with the care an
ordinarily prudent person in a like position would exercise under similar circumstances.
An individual exercising the principal functions of an office or to whom some or all of
the duties and powers of an office are delegated pursuant to section 10-33-55 is
deemed an officer for purposes of this section and sections 10-33-81 and 10-33-84.
2. An officer is not considered to be a trustee with respect to the corporation or with
respect to property held or administered by the corporation, including without limit,
property that may be subject to restrictions imposed by the donor or transferor of the
property.