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§ 23-1-3-5-3 — Indiana Law | CourtGPT
  1. Home/
  2. Laws/
  3. Indiana/
  4. Title 23 - Business and Other Associations/
  5. Article 1.3 - Benefit Corporations/
  6. Chapter 5 - Standard of Conduct for Directors23-1.3-5-1. Consideration of Interests/
  7. § 23-1-3-5-3
Indiana Legal Code

§ 23-1-3-5-3

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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.As added by P.L.93-2015, SEC.3.