Section 13.1-870 - General standards of conduct for directorsA. A director shall discharge his duties as a director, including his duties as a member of a committee, in accordance with his good faith business judgment of the best interests of the corporation.B. Unless a director has knowledge or information concerning the matter in question that makes reliance unwarranted, 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 corporation whom the director believes, in good faith, to be reliable and competent in the matters presented;2. Legal counsel, public accountants, or other persons as to matters the director believes, in good faith, are within the person's professional or expert competence; or3. A committee of the board of directors of which the director is not a member if the director believes, in good faith, that the committee merits confidence.C. A director is not liable for any action taken as a director, or any failure to take any action, if he performed the duties of his office in compliance with this section.D. A person alleging a violation of this section has the burden of proving the violation.1985, c. 522; 2007, c. 925.Amended by Acts 2007, § c. 925.Amended by Acts 1985, § c. 522.