Immune from personal liability

Ind. Code § 23-1.3-7-3
in effect
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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.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/23Fetched: 10/17/2026

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