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2018 Indiana Code
TITLE 23. Business and other Associations
ARTICLE 1.3. BENEFIT CORPORATIONS
CHAPTER 7. Standard of Conduct for Officers
23-1.3-7-3. Immune from personal liability
Universal Citation: IN Code § 23-1.3-7-3 (2018)
IC 23-1.3-7-3 Immune from personal liability
Sec. 3. 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.
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