2005 North Carolina Code - General Statutes § 54B-103. Duties and liabilities of officers and directors to their associations.
§ 54B‑103. Duties and liabilities of officers and directors to their associations.
Officers and directors of a State association shall act in a fiduciary capacity towards the association and its members or stockholders. They shall discharge duties of their respective positions in good faith, and with that diligence and care which ordinarily prudent men would exercise under similar circumstances in like positions. (1981, c. 282, s. 3.)
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