Virginia § 13.1-789 Limitation upon liability of officers

Virginia Statutes

§ 13.1-789 — Limitation upon liability of officers

Virginia § 13.1-789

Title 13.1CORPORATIONS

Ch. 9VIRGINIA STOCK CORPORATION ACT

Art. 22BENEFIT CORPORATIONS

This text of Virginia § 13.1-789 (Limitation upon liability of officers) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 13.1-789 (2026).

Text

An officer of a benefit corporation shall have no liability for actions taken that the officer believes, in his good faith business judgment, are consistent with (i) the general public benefit or specific public benefit specified in the articles of incorporation or bylaws or otherwise adopted by the board of directors and (ii) the requirements of any third-party standard then in effect for the corporation.

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An officer of a benefit corporation shall have no liability for actions taken that the officer believes, in his good faith business judgment, are consistent with (i) the general public benefit or specific public benefit specified in the articles of incorporation or bylaws or otherwise adopted by the board of directors and (ii) the requirements of any third-party standard then in effect for the corporation.