GroundRules
Ala. Code § 37-4-3: Officers and Directors Occupy Fiduciary Relationship.
Where this section sits in the code
- Title 37 Public Utilities and Public Transportation.
- Chapter 4 Public Utilities Other Than Transportation Companies or Motor Vehicle Carriers.
- Article 1 Rate and Other Regulations.
The officers and directors of every corporation operating as a utility shall be deemed to stand in a fiduciary relation to the corporation, and shall discharge the duties of their respective offices or positions in good faith and with that diligence, care and skill which ordinary prudent men would exercise under similar circumstances and conditions.
Collected 2026-09-03T14:01:51Z. Source file · JSON