Okla. Stat. tit. 18, § 18-1208: Duties of officers
Where this section sits in the code
- OK Code
- 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