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§ 23-1-3-7-3 — Indiana Law | CourtGPT
  1. Home/
  2. Laws/
  3. Indiana/
  4. Title 23 - Business and Other Associations/
  5. Article 1.3 - Benefit Corporations/
  6. Chapter 7 - Standard of Conduct for Officers23-1.3-7-1. Consideration of Interests and Factors/
  7. § 23-1-3-7-3
Indiana Legal Code

§ 23-1-3-7-3

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Except as provided in the bylaws of the benefit corporation, an officer is not personally liable for monetary damages for:(1) an action or inaction as an officer in the course of performing the duties of an officer under section 1 of this chapter if the officer performed the duties of the position in compliance with IC 23-1 and this chapter; or(2) 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.