2013 New Jersey Revised Statutes
Section 14A:18-8 - Actions of officers.

NJ Rev Stat § 14A:18-8 (2013) What's This?

14A:18-8 Actions of officers.

8. a. Each officer of a benefit corporation shall consider the interests and factors described in subsection a. of section 6 of this act when:

(1)The officer has discretion to act with respect to a matter; and

(2)It reasonably appears to the officer that the matter may have a material effect on:

(a)the creation of general or specific public benefits by the benefit corporation; or

(b)any of the interests or factors referred to in subsection a. of section 6 of this act.

b.The consideration of interests and factors in the manner described in subsection c. of section 6 of this act.

c.An officer is not personally liable for monetary damages for failure of the benefit corporation to create general or specific public benefit.

L.2011, c.30, s.8.

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