N.J.S.A. 14A:18-8 — Actions of officers.

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.

This is the verbatim text of N.J.S.A. 14A:18-8, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.