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New Jersey Statutes, Title: 14A, CORPORATIONS, GENERAL
Chapter 18:
Section: 14A:18-8: Actions of officers.
8. a. Each officer of a benefit corporation shall consider the interests and factors described in subsection a. of section 6 of this act 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.
L.2011, c.30, s.8.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 14a:18-8 (if available):
Court decisions that cite this statute:
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