Sec. 3. A director is not acting in good faith if the director has knowledge concerning the matter in question that makes reliance otherwise permitted by section 2 of this chapter unwarranted.
As added by P.L.14-1992, SEC.163.
Structure Indiana Code
Title 28. Financial Institutions
Article 13. Corporate Governance
Chapter 11. Standards of Conduct for Directors
28-13-11-1. Discharge of Duties; Good Faith; Ordinary Prudence; Best Interests of Corporation
28-13-11-2. Right to Rely on Data and Other Information; Financial Statements and Data
28-13-11-3. Bad Faith; Knowledge Making Reliance on Information Unwarranted
28-13-11-4. Best Interests of Corporation; Factors Considered
28-13-11-5. Exemption From Personal Liability; Inapplicability in Departmental Proceedings
28-13-11-6. Legislative Intent; Business Judgment and Discretion of Directors; Corporate Takeovers
28-13-11-8. Disinterested Persons; Director or Shareholder of Corporation
28-13-11-10. Unlawful Distribution; Liability of Director; Right to Contribution