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Oklahoma · Snapshot open-us-law v2026.08, retrieved 2026-09-14

Okla. Stat. tit. 18, § 18-1208: Duties of officers

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Where this section sits in the code
  1. OK Code
  2. Title 18

A. Each officer of a benefit corporation shall consider the

interests and factors described in paragraph 1 of subsection A of

Section 7 of this act in the manner provided in paragraph 3 of

subsection A of Section 7 of this act if:

1. The officer has discretion to act with respect to a matter;

and

2. It reasonably appears to the officer that the matter may

have a material effect on the creation by the benefit corporation of

general public benefit or a specific public benefit identified in

the certificate of incorporation of the benefit corporation.

B. The consideration of interests and factors in the manner

provided in subsection A of this section shall not constitute a

violation of the duties of an officer, except as provided in

subsection F of Section 6 of this act.

C. Except as provided in the certificate of incorporation or

bylaws, an officer shall not be personally liable for monetary

damages for:

1. An action or inaction as an officer in the course of

performing the duties of an officer under subsection A of this

section if the officer was not interested with respect to the action

or inaction; or

2. Failure of the benefit corporation to pursue or create

general public benefit or specific public benefit.

D. An officer shall not have a duty to a person that is a

beneficiary of the general public benefit purpose or a specific

public benefit purpose of a benefit corporation arising from the

status of the person as a beneficiary.

E. An officer who makes a business judgment in good faith

fulfills the duty under this section if the officer:

1. Is not interested in the subject of the business judgment;

2. Is informed with respect to the subject of the business

judgment to the extent the officer reasonably believes to be

appropriate under the circumstances; and

3. Rationally believes that the business judgment is in the

best interests of the benefit corporation.

Collected 2026-09-14T18:32:36Z. Source file · JSON

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