New Jersey Statutes 14A:18-8. Actions of officers
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Terms Used In New Jersey Statutes 14A:18-8
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
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.
L.2011, c.30, s.8.