2005 Minnesota Statutes

     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.  

    HIST: 1981 c 270 s 54