Directors of Corporations – Duties and Standard of Conduct

Bill Number:  HB0973

Bill Sponsor(s):  Delegate Waldstreicher

Subject:  Economic Matters

Bill Summary:

Specifying that a certain statutory standard of conduct is the sole source of duties owed by a director of a corporation directly to the corporation and indirectly to the stockholders of the corporation; repealing a certain provision of law regarding the application of a certain statutory standard of conduct when a decision has been made to enter into a certain transaction; providing that certain provisions of law concerning the liability of a director of a corporation do not apply to certain actions; etc.

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