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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>81713</law_id><section_number>13.1-789</section_number><catch_line>Limitation upon liability of officers</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="13.1">Corporations</unit><unit label="chapter" level="2" order_by="1" identifier="9">Virginia Stock Corporation Act</unit><unit label="article" level="3" order_by="1" identifier="22">Benefit Corporations</unit></structure><text>
						<section><p>An officer of a <span class="dictionary">benefit corporation</span> shall have no liability for actions taken that the officer believes, in his good faith business <span class="dictionary">judgment</span>, are consistent with (i) the <span class="dictionary">general public benefit</span> or <span class="dictionary">specific public benefit</span> specified in the <span class="dictionary">articles of incorporation</span> or bylaws or otherwise adopted by the board of directors and (ii) the requirements of any <span class="dictionary">third-<span class="dictionary">party</span> standard</span> then in effect for the corporation.</p></section></text><history>2011, c. 698.</history><metadata></metadata></law>
