General standards for directors

HRS §414-221, under Chapter 414.

HRS §414-221

C. Standards of Conduct

[§414-221] General standards for directors. (a) A director shall discharge the director's duties as a director, including the director's duties as a member of a committee:

(b) In determining the best interests of the corporation, a director, in addition to considering the interests of the corporation's shareholders, may consider, in the director's discretion, any of the following factors:

(c) In discharging duties as a director, the director is entitled to rely on information, opinions, reports, or statements, including financial statements and other financial data, if prepared or presented by:

(d) A director is not acting in good faith if the director has knowledge concerning the matter in question that makes reliance otherwise permitted by subsection (c) unwarranted.

(e) A director is not liable for any action taken as a director, or any failure to take any action, if the director performed the duties of the director's office in compliance with this section. [L 2000, c 244, pt of §1]