Vermont § 818 - Standards of conduct and liability
Full text of Vermont Vermont Statutes Online § 818 — Standards of conduct and liability, with citation guidance and answers to common questions.
§ 818. Standards of conduct and liability
- (a) A director shall discharge his or her duties as a director, including the director’s
duties as a member of a committee: (1) in good faith; (2) with the care that an ordinarily prudent person in a like position would exercise
under similar circumstances; and (3) in a manner the director reasonably believes to be in the best interests of the enterprise. (b) In discharging his or her duties, a director is entitled to rely on information, opinions,
reports, or statements, including financial statements and other financial data, if
prepared or presented by: (1) one or more officers or employees of the enterprise whom the director reasonably believes
to be reliable and competent in the matters presented; (2) legal counsel, public accountants, or other persons as to matters the director reasonably
believes are within the person’s professional or expert competence; or (3) a committee of the board of directors of which the director is not a member if the
director reasonably believes the committee merits confidence. (c) A director is not acting in good faith if he or she has knowledge concerning the matter
in question that makes reliance permitted by subsection (b) of this section unwarranted. (d) 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 his or her office in compliance
with this section. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
Source: official Vermont text · Last verified 2026-08-27
Frequently Asked Questions About Vermont § 818
What does Vermont Statutes Online § 818 cover?
Section 818 ("Standards of conduct and liability") is part of the Vermont Statutes Online, the codified statutory law of Vermont. 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 Vermont § 818?
A common citation format is "Vermont Statutes Online § 818" (Vermont). 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 Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 818 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont 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 Vermont.