Current through the 2024 Legislative Session
Section 617.0830 - General standards for directors(1) A director shall discharge his or her duties as a director, including his or her duties as a member of a committee:(b) With the care an ordinarily prudent person in a like position would exercise under similar circumstances; and(c) In a manner he or she reasonably believes to be in the best interests of the corporation.(2) In discharging his or her duties, a director may rely on information, opinions, reports, or statements, including financial statements and other financial data, if prepared or presented by:(a) One or more officers or employees of the corporation whom the director reasonably believes to be reliable and competent in the matters presented;(b) Legal counsel, public accountants, or other persons as to matters the director reasonably believes are within the persons' professional or expert competence; or(c) A committee of the board of directors of which he or she is not a member if the director reasonably believes the committee merits confidence.(3) A director is not acting in good faith if he or she has knowledge concerning the matter in question that makes reliance otherwise permitted by subsection (2) unwarranted.(4) A director is not liable for any action taken as a director, or any failure to take any action, if he or she performed the duties of his or her office in compliance with this section.s. 52, ch. 90-179; s.90, ch. 97-102.