§ 54B-103. Duties and liabilities of officers and directors to their associations. - North Carolina Statutes

§54B‑103.  Duties and liabilities of officers and directors to theirassociations.

Officers and directors of aState association shall act in a fiduciary capacity towards the association andits members or stockholders. They shall discharge duties of their respectivepositions in good faith, and with that diligence and care which ordinarilyprudent men would exercise under similar circumstances in like positions. (1981,c. 282, s. 3.)