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New Jersey Statutes Title 14A. Corporations, General 14A § 18-8

Current as of January 01, 2024 | Updated by Findlaw Staff

a. Each officer of a benefit corporation shall consider the interests and factors described in subsection a. of section 6 of this act  1 when:

(1) The officer has discretion to act with respect to a matter; and

(2) It reasonably appears to the officer that the matter may have a material effect on:

(a) the creation of general or specific public benefits by the benefit corporation; or

(b) any of the interests or factors referred to in subsection a. of section 6 of this act.

b. The consideration of interests and factors in the manner described in subsection c. of section 6 of this act.

c. An officer is not personally liable for monetary damages for failure of the benefit corporation to create general or specific public benefit.

1 L.2011, c. 30 (N.J.S.A. § 14A:18-6).
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Cite this article: FindLaw.com - New Jersey Statutes Title 14A. Corporations, General 14A § 18-8 - last updated January 01, 2024 | https://codes.findlaw.com/nj/title-14a-corporations-general/nj-st-sect-14a-18-8/

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