(a) In discharging the duties of their respective positions, the board of directors, committees of the board, and individual directors of a sustainable business corporation, in considering the best interests of the sustainable business corporation:
Terms Used In Hawaii Revised Statutes 420D-6
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.
General public benefit: means a material positive impact on society and the environment, taken as a whole and as measured by a third-party standard under section 420D-12, from the business and operations of a sustainable business corporation. See Hawaii Revised Statutes 420D-2
Sustainable business corporation: means a domestic corporation, incorporated under chapter 414, that has elected to also become subject to this chapter and whose status as a sustainable business corporation has not been terminated as provided in this chapter. See Hawaii Revised Statutes 420D-2
(1) Shall consider the effects of any action of the sustainable business corporation upon:
(A) The shareholders of the sustainable business corporation; and(B) The accomplishment of general and specific public benefits set forth in the sustainable business corporation’s purposes; and(2) May consider:
(A) The employees and workforce of the sustainable business corporation and its subsidiaries and suppliers;(B) The interests of customers as beneficiaries of the general or specific public benefit purposes of the sustainable business corporation;(C) Community and societal considerations, including those of any community in which offices or facilities of the sustainable business corporation or its subsidiaries or suppliers are located;(D) The local and global environment;(E) The short-term and long-term interests of the sustainable business corporation, including benefits that may accrue to the sustainable business corporation from its long-term plans and the possibility that these interests may be best served by the continued independence of the sustainable business corporation;(F) The ability of the sustainable business corporation to accomplish its general public benefit purpose and any specific public benefit purpose;(G) The resources, intent, and conduct of any person seeking to acquire control of the corporation; and(H) Any other pertinent factors or the interests of any other group that they deem appropriate.(b) A director shall not be personally liable for monetary damages for any action taken as a director if the director performed the duties of the director’s office in compliance with the general standards of conduct pursuant to § 414-221.
