2006 Minnesota Code
Chapters 300 - 319B Corporations
Chapter 302A Business Corporations
Section 302A.361 STANDARD OF CONDUCT.
302A.361 STANDARD OF CONDUCT.
An officer shall discharge the duties of an office in good faith, in a manner the officer
reasonably believes to be in the best interests of the corporation, and with the care an ordinarily
prudent person in a like position would exercise under similar circumstances. A person exercising
the principal functions of an office or to whom some or all of the duties and powers of an office
are delegated pursuant to section
302A.351 is deemed an officer for purposes of this section and
sections
302A.467 and
302A.521.
History: 1981 c 270 s 54
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