54B-103. Duties and liabilities of officers and directors to their associations.
Officers and directors of a State association shall act in a fiduciary capacity towards the association and its members or stockholders. They shall discharge duties of their respective positions in good faith, and with that diligence and care which ordinarily prudent men would exercise under similar circumstances in like positions. (1981, c. 282, s. 3.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 54B - Savings and Loan Associations
Article 5 - Corporate Administration.
§ 54B-100 - Membership of a mutual association.
§ 54B-102 - Employment policies.
§ 54B-103 - Duties and liabilities of officers and directors to their associations.
§ 54B-104 - Conflicts of interest.
§ 54B-106 - Annual meetings; notice required.