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N.J. Stat. Ann. § 14A:18-8

Actions of officers

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

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.

Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.