Ind. Code ch. 23-1.3-7

in effect

Ind. Code § 23-1.3-7-1 Consideration of interests and factors

Sec. 1. Each officer of a benefit corporation shall consider the interests and factors of the persons listed in IC 23-1.3-5-1 in the manner provided under IC 23-1.3-5-1 if: (1) the officer has discretion to act with respect to a matter; and (2) it reasonably appears to the officer that the matter may have a material effect on the creation by the benefit corporation of general public benefit or a specific public benefit identified in the articles of incorporation of the benefit corporation. As added by P.L.93-2015, SEC.3.

Ind. Code § 23-1.3-7-2 Consideration of interests and factors consistent with duties

Sec. 2. The consideration of interests and factors in the manner described in section 1 of this chapter does not constitute a violation of any duties of an officer. As added by P.L.93-2015, SEC.3.

Ind. Code § 23-1.3-7-3 Immune from personal liability

Sec. 3. Except as provided in the bylaws of the benefit corporation, an officer is not personally liable for monetary damages for: (1) an action or inaction as an officer in the course of performing the duties of an officer under section 1 of this chapter if the officer performed the duties of the position in compliance with IC 23-1 and this chapter; or (2) failure of the benefit corporation to pursue or create general public benefit or a specific public benefit. As added by P.L.93-2015, SEC.3.

Ind. Code § 23-1.3-7-4 No duty to beneficiary

Sec. 4. An officer does not have a duty to a person that is a beneficiary of the general public benefit purpose or a specific public benefit purpose of a benefit corporation arising from the status of the person as a beneficiary. As added by P.L.93-2015, SEC.3.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/23Fetched: 10/17/2026