§ 516. Alternative standard
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 15 Pa.C.S.A. Corporations and Unincorporated AssociationsEffective: January 3, 2023
Effective: January 3, 2023
15 Pa.C.S.A. § 516
§ 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, justifiable reliance and business judgment rule).
Credits
1990, Dec. 19, P.L. 834, No. 198, § 102, imd. effective. Amended 2022, Nov. 3, P.L. 1791, No. 122, § 26, effective in 60 days [Jan. 3, 2023].
15 Pa.C.S.A. § 516, PA ST 15 Pa.C.S.A. § 516
Current through Act 13 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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