California Corporations Code

§ 14620

CORP § 14620 Effective Jan 1, 2012Div. 3 · Title 1 · Part 13 · Ch. 3

Statute text

(a)A director shall perform the duties of a director including duties as a member of any committee of the board upon which the director may serve, in good faith, in a manner the director believes to be in the best interests of the benefit corporation and with that care, including reasonable inquiry, as an ordinarily prudent person in a like position would use under similar circumstances.

(b)In discharging their respective duties, and in considering the best interests of the benefit corporation, the board of directors, committees of the board, and individual directors of a benefit corporation shall consider the impacts of any action or proposed action upon all of the following:

(1)The shareholders of the benefit corporation.

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Legislative history

Added by Stats. 2011, Ch. 728, Sec. 1. (AB 361) Effective January 1, 2012.