Minnesota Legislature
Office of the Revisor of Statutes
2007 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
302A.361 STANDARD OF CONDUCT.
An officer shall discharge the duties of an office in good faith, in a manner the officer
reasonably believes to be in the best interests of the corporation, and with the care an ordinarily
prudent person in a like position would exercise under similar circumstances. A person exercising
the principal functions of an office or to whom some or all of the duties and powers of an office
are delegated pursuant to section 302A.351 is deemed an officer for purposes of this section and
sections 302A.467 and 302A.521.
History: 1981 c 270 s 54
An officer shall discharge the duties of an office in good faith, in a manner the officer
reasonably believes to be in the best interests of the corporation, and with the care an ordinarily
prudent person in a like position would exercise under similar circumstances. A person exercising
the principal functions of an office or to whom some or all of the duties and powers of an office
are delegated pursuant to section 302A.351 is deemed an officer for purposes of this section and
sections 302A.467 and 302A.521.
History: 1981 c 270 s 54
Official Publication of the State of Minnesota
Revisor of Statutes