West Virginia § 31F-4-402 Limitation upon liability of officers

West Virginia Statutes

§ 31F-4-402 — Limitation upon liability of officers

West Virginia § 31F-4-402

Ch. 31FWEST VIRGINIA BENEFIT CORPORATION ACT

Art. 4DIRECTORS AND OFFICERS

This text of West Virginia § 31F-4-402 (Limitation upon liability of officers) is published on Counsel Stack Legal Research, covering West Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

W. Va. Code § 31F-4-402 (2026).

Text

An officer of a benefit corporation has no liability for actions taken that the officer believes, in his or her 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 has no liability for actions taken that the officer believes, in his or her 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.