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SB 0373 - Directors/Officers of Nonprofit Corporations - Raise the Standard for Liability
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Tracking Level: Support
Sponsor: John Kennedy
Last Action: 7/1/2020 - Effective Date
Senate Committee: Judiciary
House Committee: Energy, Utilities and Telecommunications
Assigned To:
Larry RamseyNext Bill

Staff Analysis of the Legislation

This bill is intended to provide additional protection to members of boards of directors and officers of nonprofit entities and electric membership corporations (EMCs). It would raise the standard of holding such directors liable for their actions from an ordinary-negligence standard to a gross-negligence standard. In addition, it would loosen restrictions on members of EMC boards from doing business with the EMC.

Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text

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