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.)
Sections: Previous 54B-75 54B-76 54B-77 54B-78 54B-100 54B-101 54B-102 54B-103 54B-104 54B-105 54B-106 54B-107 54B-108 54B-109 54B-110 Next
Last modified: March 23, 2014