Clarifying the duties of a director of a corporation and that the director must act in good faith, in a manner the director reasonably believes to be in the best interests of the corporation, and with the care that an ordinarily prudent person in a similar position would use under similar circumstances; clarifying that a director who acts in accordance with a specified provision of law shall have specified immunity from liability; etc.
Bill File Type: Regular
Effective Date(s): October 1, 2015
|Date Posted||Document Name|
|2/10/2015||Text - First - Corporations and Real Estate Investment Trusts - Directors and Trustees - Duties and Immunity From Liability|
( 2-401, 2-405.1, 8-601.1 )
Last Updated: 2/3/2020 2:29 PM