Banks, trust companies, and corporations; responsibilities and standard of care of directors and officers; change provisions

A BILL to be entitled an Act to amend Part 12 of Article 2 of Chapter 1 of Title 7 and Article 8 of Chapter 2 of Title 14 of the O.C.G.A., relating to management of bank and trust companies and directors and officers of corporations, respectively, so as to change provisions relating to the responsibilities and standard of care of directors and officers of banks, trust companies, and corporations; to clarify and expand the ability of directors and officers to rely on other individuals in the performance of their duties; to shield directors and officers from liability for monetary damages to the corporation, its shareholders, and certain other parties in the absence of gross negligence; to provide for related matters; to provide for an effective date; to repeal conflicting laws; and for other purposes.