1716 - Alternative standard. - Pennsylvania Statutes

§ 1716. Alternative standard. (a) General rule.--In discharging the duties of their respective positions, the board of directors, committees of the board and individual directors of a business corporation may, in considering the best interests of the corporation, consider the effects of any action upon employees, upon suppliers and customers of the corporation and upon communities in which offices or other establishments of the corporation are located, and all other pertinent factors. The consideration of those factors shall not constitute a violation of section 1712 (relating to standard of care and justifiable reliance). (b) Presumption.--Absent breach of fiduciary duty, lack of good faith or self-dealing, actions taken as a director shall be presumed to be in the best interests of the corporation. (c) Cross reference.--See section 1711 (relating to alternative provisions). Cross References. Section 1716 is referred to in sections 1711, 1717, 8943 of this title.