{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/13.1-789.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/13.1-789.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/13.1-789.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/13.1-789.html"}],"law_id":346977,"edition_id":2,"section_id":346977,"structure_id":49807,"section_number":"13.1-789","catch_line":"Limitation upon liability of officers","history":"2011, c. 698.","full_text":"An officer of a benefit corporation shall have no liability for actions taken that the officer believes, in his good faith business judgment, are consistent with (i) the general public benefit or specific public benefit specified in the articles of incorporation or bylaws or otherwise adopted by the board of directors and (ii) the requirements of any third-party standard then in effect for the corporation.\n\n","order_by":null,"text":{"0":{"id":1294581,"text":"An officer of a benefit corporation shall have no liability for actions taken that the officer believes, in his good faith business judgment, are consistent with (i) the general public benefit or specific public benefit specified in the articles of incorporation or bylaws or otherwise adopted by the board of directors and (ii) the requirements of any third-party standard then in effect for the corporation.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":49807,"edition_id":2,"name":"Benefit Corporations","identifier":"22","label":"article","depth":3,"order_by":22,"parent_id":49780,"metadata":{"child_laws":11,"child_structures":0},"date_created":"2026-08-02 02:15:47","date_modified":"2026-08-02 12:29:14","permalink":{"id":1377843,"object_type":"structure","relational_id":49807,"identifier":"22","token":"13.1\/9\/22","url":"\/13.1\/9\/22\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49780,"edition_id":2,"name":"Virginia Stock Corporation Act","identifier":"9","label":"chapter","depth":2,"order_by":12,"parent_id":49726,"metadata":{"child_laws":265,"child_structures":27},"date_created":"2026-08-02 02:14:54","date_modified":"2026-08-02 12:29:09","permalink":{"id":1377165,"object_type":"structure","relational_id":49780,"identifier":"9","token":"13.1\/9","url":"\/13.1\/9\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49726,"edition_id":2,"name":"Corporations","identifier":"13.1","label":"title","depth":1,"order_by":44,"parent_id":null,"metadata":{"child_laws":894,"child_structures":104},"date_created":"2026-08-02 02:14:01","date_modified":"2026-08-02 12:29:04","permalink":{"id":1374495,"object_type":"structure","relational_id":49726,"identifier":"13.1","token":"13.1","url":"\/13.1\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":346970,"structure_id":49807,"section_number":"13.1-782","catch_line":"Definitions","url":"\/13.1-782\/","token":"13.1\/9\/22\/13.1-782","metadata":{"court_decisions":""}},{"id":346971,"structure_id":49807,"section_number":"13.1-783","catch_line":"Application and effect of article","url":"\/13.1-783\/","token":"13.1\/9\/22\/13.1-783","metadata":false},{"id":346972,"structure_id":49807,"section_number":"13.1-784","catch_line":"Formation of benefit corporations","url":"\/13.1-784\/","token":"13.1\/9\/22\/13.1-784","metadata":false},{"id":346973,"structure_id":49807,"section_number":"13.1-785","catch_line":"Election of status after formation","url":"\/13.1-785\/","token":"13.1\/9\/22\/13.1-785","metadata":false},{"id":346974,"structure_id":49807,"section_number":"13.1-786","catch_line":"Termination of status","url":"\/13.1-786\/","token":"13.1\/9\/22\/13.1-786","metadata":{"court_decisions":""}},{"id":346975,"structure_id":49807,"section_number":"13.1-787","catch_line":"Corporate purposes","url":"\/13.1-787\/","token":"13.1\/9\/22\/13.1-787","metadata":{"court_decisions":""}},{"id":346976,"structure_id":49807,"section_number":"13.1-788","catch_line":"Standard of conduct for directors","url":"\/13.1-788\/","token":"13.1\/9\/22\/13.1-788","metadata":{"court_decisions":""}},{"id":346977,"structure_id":49807,"section_number":"13.1-789","catch_line":"Limitation upon liability of officers","url":"\/13.1-789\/","token":"13.1\/9\/22\/13.1-789","metadata":false},{"id":346978,"structure_id":49807,"section_number":"13.1-790","catch_line":"Right of action","url":"\/13.1-790\/","token":"13.1\/9\/22\/13.1-790","metadata":false},{"id":346979,"structure_id":49807,"section_number":"13.1-791","catch_line":"Annual benefit report","url":"\/13.1-791\/","token":"13.1\/9\/22\/13.1-791","metadata":false},{"id":346980,"structure_id":49807,"section_number":"13.1-792","catch_line":"Reserved","url":"\/13.1-792\/","token":"13.1\/9\/22\/13.1-792","metadata":{"court_decisions":""}}],"previous_section":{"id":346976,"structure_id":49807,"section_number":"13.1-788","catch_line":"Standard of conduct for directors","url":"\/13.1-788\/","token":"13.1\/9\/22\/13.1-788","metadata":{"court_decisions":""}},"next_section":{"id":346978,"structure_id":49807,"section_number":"13.1-790","catch_line":"Right of action","url":"\/13.1-790\/","token":"13.1\/9\/22\/13.1-790","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/13.1-789\/","history_text":"<p>This law was first created in 2011. The record of its establishment is cataloged in chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?111+ful+CHAP0698\">698<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":false,"permalink":{"id":1377873,"object_type":"law","relational_id":346977,"identifier":"13.1-789","token":"13.1\/9\/22\/13.1-789","url":"\/13.1-789\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/13.1-789\/","token":"13.1\/9\/22\/13.1-789","dublin_core":{"Title":"Limitation upon liability of officers","Type":"Text","Format":"text\/html","Identifier":"\u00a7 13.1-789","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>An officer of a <span class=\"dictionary\">benefit corporation<\/span> shall have no liability for actions taken that the officer believes, in his good faith business <span class=\"dictionary\">judgment<\/span>, are consistent with (i) the <span class=\"dictionary\">general public benefit<\/span> or <span class=\"dictionary\">specific public benefit<\/span> specified in the <span class=\"dictionary\">articles of incorporation<\/span> or bylaws or otherwise adopted by the board of directors and (ii) the requirements of any <span class=\"dictionary\">third-<span class=\"dictionary\">party<\/span> standard<\/span> then in effect for the corporation.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nLIMITATION UPON LIABILITY OF OFFICERS (\u00a7 13.1-789)\n\nAn officer of a benefit corporation shall have no liability for actions taken\nthat the officer believes, in his good faith business judgment, are consistent\nwith (i) the general public benefit or specific public benefit specified in the\narticles of incorporation or bylaws or otherwise adopted by the board of\ndirectors and (ii) the requirements of any third-party standard then in effect\nfor the corporation.\n\nHISTORY: 2011, c. 698.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}