California Corporations Code

§ 7231.5

CORP § 7231.5Div. 2 · Title 1 · Part 3 · Ch. 2 · Art. 3

Statute text

(a)Except as provided in Section 7233 or 7236, there is no monetary liability on the part of, and no cause of action for damages shall arise against, any volunteer director or volunteer executive officer of a nonprofit corporation subject to this part based upon any alleged failure to discharge the person’s duties as a director or officer if the duties are performed in a manner that meets all of the following criteria:

(1)The duties are performed in good faith.

(2)The duties are performed in a manner such director or officer believes to be in the best interests of the corporation.

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Legislative history

Amended by Stats. 1990, Ch. 107, Sec. 5.