R.S. 12:1823

Standard of conduct for officers ACTIVE

A. Each officer of a benefit corporation shall consider the interests and factors described in R.S. 12:1821 in the manner provided in that Section if all of the following applies:

(1) The officer has discretion to act with respect to the matter.

(2) It reasonably appears to the officer that the matter may have a material effect on the creation by the benefit corporation of a general public benefit or a specific public benefit identified in the articles of the benefit corporation.

B. The consideration of interests and factors pursuant to Subsection A of this Section shall not constitute a violation of R.S. 12:91.

C. An officer shall not be personally liable for monetary damages for either of the following:

(1) An action or omission as an officer if the officer performed the duties of the position pursuant to R.S. 12:91.

(2) Failure of the benefit corporation to pursue or create general public benefit or specific public benefit.

D. An officer shall not have a duty to a person that is a beneficiary of the general public benefit purpose or a specific public benefit purpose of a benefit corporation arising from the status of the person as a beneficiary.

Actions

References

Cited by

None.

History

  • enactment Acts 2012, No. 442, §1

Section navigation

Cite R.S. 12:1823

Bluebook
La. Rev. Stat. Ann. § 12:1823 (2026).
Permalink
https://theusufruct.com/rs/title-12/section-1823
BibTeX
@misc{larevstat-12-1823,
  title        = {La. Rev. Stat. Ann. § 12:1823},
  howpublished = {Louisiana Revised Statutes},
  year         = {2026},
  url          = {https://theusufruct.com/rs/title-12/section-1823},
  note         = {Snapshot 2026-05-22}
}