Home/DC Code/§ 29-1303.05
§ 29-1303.05Title 29

Right of action.

Except in a benefit enforcement proceeding, no person may bring an action or assert a claim against a benefit corporation or its directors or officers with respect to: Failure to pursue or create general public benefit or a specific public benefit set forth in its articles of incorporation; or Violation of a duty or standard of conduct under this chapter. A benefit corporation shall not be liable for monetary damages under this chapter for any failure of the benefit corporation to pursue or create general public benefit or a specific public benefit. A benefit enforcement proceeding may be commenced or maintained only: Directly by the benefit corporation; or Derivatively by: A shareholder; A director; A person or group of persons that owns beneficially or of record 5% or more of the equity interests in an entity of which the benefit corporation is a subsidiary; or Other persons as specified in the articles of incorporation or bylaws of the benefit corporation.

Annotations

May 1, 2013, D.C. Law 19-305, § 2(b), 60 DCR 2735
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Sourced from the DC Council Open Law Library (public domain).

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