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Current as of January 02, 2024 | Updated by Findlaw Staff
Sec. 3. Except as otherwise provided in the bylaws of a benefit corporation, a director is not personally liable for monetary damages for:
(1) any action or inaction in the course of performing the duties of a director under section 1 of this chapter if the director performed the duties in compliance with IC 23-1-35 and this chapter; or
(2) the failure of the benefit corporation to pursue or create general public benefit or a specific public benefit.
Cite this article: FindLaw.com - Indiana Code Title 23. Business and Other Associations § 23-1.3-5-3 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-23-business-and-other-associations/in-code-sect-23-1-3-5-3/
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