North Carolina General Statutes § 54B-103 Duties and liabilities of officers and directors to their associations

Officers and directors of a State association shall act in a fiduciary capacity towards the association and its members or stockholders. They shall discharge duties of their respective positions in good faith, and with that diligence and care which ordinarily prudent men would exercise under similar circumstances in like positions. (1981, c. 282, s. 3.)

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Last modified: March 23, 2014