Ind. Code § 23-1.3-5-3

Current through P.L. 171-2024

Section 23-1.3-5-3 - Immune from personal liability

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.

IC 23-1.3-5-3

Added by P.L. 93-2015, SEC. 3, eff. 1/1/2016.