2017: HB 192 Banks, trust companies, and corporations; responsibilities and standard of care of directors and officers
Session 2017-18House bill 192 fixes an issue by returning Georgia to a standard that existed prior to a 2014 Georgia Supreme Court decision, which has placed business at a greater risk of losing qualified directors and officers who serve on corporate boards. The bill brings the standard of care for officers and directors in Georgia back in line with the standard in 35 other states. Passage of HB 192 would create a more predictable legal climate that is attractive to companies considering Georgia as a potential corporate headquarters and to businesses of all sizes who care deeply that the civil justice system remain fair and equitable to all parties.
| Description | Sponsors | Bill Status | Chamber Position |
|---|---|---|---|
House bill 192 fixes an issue by returning Georgia to a standard that existed prior to a 2014 Georgia Supreme Court decision, which has placed business at a greater risk of losing qualified directors and officers who serve on corporate boards. The bill brings the standard of care for officers and directors in Georgia back in line with the standard in 35 other states. Passage of HB 192 would create a more predictable legal climate that is attractive to companies considering Georgia as a potential corporate headquarters and to businesses of all sizes who care deeply that the civil justice system remain fair and equitable to all parties. |
Effective Date 07/01/2017 |
