Arizona § 10-2432 - Standard of conduct for officers
Full text of Arizona Arizona Revised Statutes § 10-2432 — Standard of conduct for officers, with citation guidance and answers to common questions.
§ 10-2432. Standard of conduct for officers
A. Each officer of a benefit corporation shall consider the interests and factors described in section 10-2431, subsection A, in the manner provided in that subsection, if both of the following apply:
1. The officer has discretion to act with respect to a matter.
2. It reasonably appears to the officer that the matter may have a material effect on the general public benefit or specific public benefit identified in the articles of incorporation of the benefit corporation.
B. The consideration of interests and factors in the manner described in subsection A of this section does not constitute a violation of section 10-842.
C. Except as otherwise provided in this section, the standards of conduct and presumptions prescribed in chapter 8 of this title apply to officers of benefit corporations.
D. Except as provided in the articles of incorporation or bylaws, an officer is not personally liable for monetary damages for failure of the benefit corporation to pursue or create general public benefit or a specific public benefit.
E. An officer does not have a duty to a person that is a beneficiary of the general public benefit purpose or the specific public benefit purpose of a benefit corporation arising from the status of the person as a beneficiary.
F. An officer who makes a business judgment in good faith fulfills the duty under this section if all of the following apply:
1. The officer is not interested in the subject of the business judgment.
2. The officer is informed with respect to the subject of the business judgment to the extent the officer reasonably believes to be appropriate under the circumstances.
3. The officer rationally believes that the business judgment is in the best interests of the benefit corporation.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 10-2432
What does Arizona Revised Statutes § 10-2432 cover?
Section 10-2432 ("Standard of conduct for officers") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 10-2432?
A common citation format is "Arizona Revised Statutes § 10-2432" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 10-2432 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.