Pennsylvania § 1716 - Alternative standard.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 1716 — Alternative standard., with citation guidance and answers to common questions.
§ 1716. Alternative standard.
(a) General rule.--In discharging the duties of their respective positions, the board of directors, committees of the board and individual directors of a business corporation may, in considering the best interests of the corporation, consider the effects of any action upon employees, upon suppliers and customers of the corporation and upon communities in which offices or other establishments of the corporation are located, and all other pertinent factors. The consideration of those factors shall not constitute a violation of section 1712 (relating to standard of care, justifiable reliance and business judgment rule).
(b) Presumption.--(Deleted by amendment).
(c) Cross reference.--See section 1711 (relating to alternative provisions).
(Nov. 3, 2022, P.L.1791, No.122, eff. 60 days)
Cross References. Section 1716 is referred to in sections 1711, 1712, 1717, 3321 of this title.
Frequently Asked Questions About Pennsylvania § 1716
What does Pennsylvania Consolidated Statutes § 1716 cover?
Section 1716 ("Alternative standard.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. 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 Pennsylvania § 1716?
A common citation format is "Pennsylvania Consolidated Statutes § 1716" (Pennsylvania). 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 Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 1716 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania 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 Pennsylvania.