§ 516. Alternative standard.
(a) General rule.--In discharging the duties of their respective positions, the board of directors, committees of the board and individual directors of a domestic corporation may, in considering the best interests of the corporation, consider the effects of any action upon employees, upon suppliers and customers of the corporation and upon communities in which offices or other establishments of the corporation are located, and all other pertinent factors. The consideration of those factors shall not constitute a violation of section 512 (relating to standard of care and justifiable reliance).
(b) Presumption.--Absent breach of fiduciary duty, lack of good faith or self-dealing, actions taken as a director shall be presumed to be in the best interests of the corporation.
(c) Cross reference.--See section 511(b) (relating to alternative provisions).
Cross References. Section 516 is referred to in sections 511, 517 of this title.
Section: Previous 505 506 507 511 512 513 514 515 516 517 518 521 522 523 NextLast modified: October 8, 2016