HB 192: Banks, trust companies, and corporations; responsibilities and standard of care of directors and officers; change provisionsVoted on Friday March 3, 2017
John Pezold's thoughts
HB 192 alters how banks and trust companies are managed by way of board of directors and officers of corporations. The bill defines "gross negligence" as a gross deviation of the standard of care of a director or officer in a like position under similar circumstances. Good faith efforts are still required.
A director or an officer shall not be liable to the corporation, its shareholders, or certain other parties, for any action or failure to take action if the director's action or failure does not constitute gross negligence.
The table below breaks down the total number of votes, and marks the majority vote.
|Did not vote||6||3.3%|