{"data":{"id":"us-va/va.-code-13.1-870","jurisdiction":"us-va","citation":"Va. Code § 13.1-870","heading":"General standards of conduct for directors","body":"A. A director shall discharge his duties as a director, including his duties as a member of a committee, in accordance with his good faith business judgment of the best interests of the corporation.B. Unless a director has knowledge or information concerning the matter in question that makes reliance unwarranted, a director is entitled to rely on information, opinions, reports or statements, including financial statements and other financial data, if prepared or presented by:1. One or more officers or employees of the corporation whom the director believes, in good faith, to be reliable and competent in the matters presented;2. Legal counsel, public accountants, or other persons as to matters the director believes, in good faith, are within the person's professional or expert competence; or3. A committee of the board of directors of which the director is not a member if the director believes, in good faith, that the committee merits confidence.C. A director is not liable for any action taken as a director, or any failure to take any action, if he performed the duties of his office in compliance with this section.D. A person alleging a violation of this section has the burden of proving the violation.1985, c. 522; 2007, c. 925.","path":["Title 13.1. CORPORATIONS","Chapter 10. VIRGINIA NONSTOCK CORPORATION ACT","Article 8. DIRECTORS AND OFFICERS"],"source_url":"https://law.lis.virginia.gov/vacode/13.1-870/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:14:14Z","sha256":"a1dad343b66abfe0a1fe4f9aa594c54369e8f06a46cf08de240a9965e5ed0580","source_id":"us-va","stale":true,"prev":"us-va/va.-code-13.1-869","next":"us-va/va.-code-13.1-870.1"},"notice":"GroundRules: Original legal text. Not legal advice."}