New York § 1703 - 1703Standard of care for investments in subsidiaries
Full text of New York New York Consolidated Laws § 1703 — 1703Standard of care for investments in subsidiaries, with citation guidance and answers to common questions.
§ 1703. 1703Standard of care for investments in subsidiaries
§ 1703. Standard of care for investments in subsidiaries. In addition to other requirements of law (statutory or otherwise) that affect the standard of care of directors and officers of corporations, directors and officers shall perform their duties in connection with investments in, or other acquisitions of, subsidiaries in good faith and with that degree of care that an ordinarily prudent individual in a like position would use under similar circumstances.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 1703
What does New York Consolidated Laws § 1703 cover?
Section 1703 ("1703Standard of care for investments in subsidiaries") is part of the New York Consolidated Laws, the codified statutory law of New York. 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 New York § 1703?
A common citation format is "New York Consolidated Laws § 1703" (New York). 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 New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 1703 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York 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 New York.