§9125. Duties of member.

Latest version.

(a) No fiduciary duties generally.--A member does not have a fiduciary duty to a nonprofit association or to another member solely by being a member.

(b) Discharge of duties and exercise of rights.--A member shall, consistent with the governing principles and the contractual obligation of good faith and fair dealing:

(1) discharge duties under the governing principles to the nonprofit association and the other members; and

(2) exercise any rights under the governing principles and this chapter.

(July 9, 2013, P.L.476, No.67, eff. 60 days)

Notation

2013 Amendment. Act 67 added section 9125.

                    
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