Nonprofit Corporations; directors and officers of electric membership corporations and foreign electric cooperatives; provisions; change

A BILL to be entitled an Act to amend Article 8 of Chapter 3 of Title 14 and Part 6 of Article 4 of Chapter 3 of Title 46 of the Official Code of Georgia Annotated, relating to directors and officers of nonprofit corporations and directors and officers of electric membership corporations and foreign electric cooperatives, respectively, so as to change provisions relating to the responsibilities and standard of care of directors and officers of certain corporations; to clarify the ability of directors and officers to rely on other individuals in the performance of their duties; to provide for a rebuttable presumption when directors and officers are acting in good faith; to provide for related matters; to provide for applicability; to repeal conflicting laws; and for other purposes.