Director to act in best interests of corporation; director's reliance upon others for information; liability of directors
- Statute:
- Mississippi §79-11-267 · Chapter NP (Mississippi Nonprofit Corporation Act (Miss. Code Title 79 Ch. 11))
- Topic:
- Governance · Director standard of care
- Applies to:
- Nonprofit associations
A director shall discharge duties in good faith, with the care an ordinarily prudent person in a like position would exercise under similar circumstances, and in a manner the director reasonably believes to be in the best interests of the corporation. Reliance on officers, employees, counsel, accountants, and board committees is allowed on the terms this section sets. That is the fiduciary overlay for an incorporated Mississippi HOA or condo board.
📄 Read the official text at lexisnexis.com →
How SoShiny helps with Director to act in best interests of corporation; director's reliance upon others for information; liability of directors
SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees.
See the feature → Start freeFrequently asked
- What does Mississippi §79-11-267 require?
- A director shall discharge duties in good faith, with the care an ordinarily prudent person in a like position would exercise under similar circumstances, and in a manner the director reasonably believes to be in the best interests of the corporation. Reliance on officers, employees, counsel, accountants, and board committees is allowed on the terms this section sets. That is the fiduciary overlay for an incorporated Mississippi HOA or condo board.
- Who does Mississippi §79-11-267 apply to?
- Mississippi §79-11-267 applies to Nonprofit associations in Mississippi.
- What happens if our nonprofit corporation doesn't comply with §79-11-267?
- Non-compliance can expose the association and individual directors to disputes in the governing forum for Mississippi community associations. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.
- Where can I read the official text of Mississippi §79-11-267?
- The official text is published by the Mississippi Legislature at lexisnexis.com. The summary on this page is for plain-English reference only and is not legal advice.
- How does SoShiny help with Director to act in best interests of corporation; director's reliance upon others for information; liability of directors?
- SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees. Learn more →
Not legal advice. This page is a plain-English summary of Mississippi §79-11-267 prepared by SoShiny for board members and managers. For binding legal advice or interpretation, consult a Mississippi-licensed attorney. For the official statutory text, see the link above.
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