California Corporations Code

§ 9241

CORP § 9241 Effective Jan 1, 2010Div. 2 · Title 1 · Part 4 · Ch. 2 · Art. 4

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 such director believes to be in the best interests of the corporation and with such care, including reasonable inquiry, as is appropriate under the circumstances.

(b)In performing the duties of a director, a director shall be entitled to rely on information, opinions, reports, or statements, including financial statements and other financial data, in each case prepared or presented by:

(1)One or more officers or employees of the corporation whom the director believes to be reliable and competent in the matters presented;

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Legislative history

Amended by Stats. 2009, Ch. 631, Sec. 33. (AB 1233) Effective January 1, 2010.