AABD Launches Initiative to Reform Director Standards of Care
AABD has launched the AABD initiative on state standards of care for bank directors. These changes will ensure that gross negligence is the applicable standard of care and that the Business Judgment Rule, as applied in Delaware, will be applied by other states.
Members of and advisors to the new Task Force, which will help guide the Initiative, will be announced soon. In the meantime, AABD members are welcome to join the Task Force by completing the Task Force form.