{"data":{"id":"us-sc/s.c.-code-ann.-33-38-420","jurisdiction":"us-sc","citation":"S.C. Code Ann. § 33-38-420","heading":"Officer liability for benefit corporation.","body":"(A) Each officer of a benefit corporation shall consider the interests and factors described in Section 33-38-400 in the manner provided in that section if:\n(1) the officer has discretion to act with respect to a matter; and\n(2) it reasonably appears to the officer that the matter may have a material effect on the creation by the benefit corporation of a general public benefit or a specific public benefit identified in the public benefit corporation's articles of incorporation.\n(B) The consideration of interests and factors in the manner described in subsection (A) shall not constitute a violation of Section 33-8-420.\n(C) An officer is not personally liable for monetary damages for:\n(1) any act taken as an officer, or any omission to act as an officer, if the officer performed the duties of office in compliance with Section 33-8-410; or\n(2) failure of the benefit corporation to pursue or create a general public benefit or a specific public benefit.\n(D) An officer does not have a duty to any specific person that is a beneficiary of the general public benefit purpose or a specific public benefit purpose of a public benefit corporation arising from the status of the person as a beneficiary.","path":["Title 33 - CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS","CHAPTER 38 South Carolina Benefit Corporation Act","ARTICLE 4 Accountability"],"source_url":"https://www.scstatehouse.gov/code/t33c038.php","current_through":"2025 Session of the General Assembly","vintage":"","retrieved_at":"2026-09-02T07:04:14Z","sha256":"c293202728df967029720bf7d7f89fadaebcbf7b0ff205d9b33cdd4047dfd4e5","source_id":"us-sc","stale":false,"prev":"us-sc/s.c.-code-ann.-33-38-410","next":"us-sc/s.c.-code-ann.-33-38-430"},"notice":"GroundRules: Original legal text. Not legal advice."}