Rhode Island General Laws 5-89-8. Limitation of liability
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Neither the failure by an entity to satisfy any of its standards, nor the selection of specific assessment measures, nor any other action taken by or on behalf of the entity pursuant to this chapter, or any omission to take any action required by this chapter to seek, obtain, or maintain status as a reporting entity, shall, in and of itself, create any right of action on the part of any person or entity or otherwise give rise to any claim for breach of any fiduciary or similar duty owed to any person or entity.
History of Section.
P.L. 2019, ch. 186, § 1; P.L. 2019, ch. 206, § 1.
Terms Used In Rhode Island General Laws 5-89-8
- Assessment measures: means with respect to any entity, the policies, procedures, or practices adopted by the entity to adduce objective factual information to assess the entity's performance in meeting its standards, including any procedures for internal or external verification of the information. See Rhode Island General Laws 5-89-3
- Entity: means any corporation (stock or nonstock), or a limited-liability company, existing under the applicable laws of this state. See Rhode Island General Laws 5-89-3
- Fiduciary: A trustee, executor, or administrator.
- person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
- Reporting entity: means an entity that has been issued a certificate of adoption of transparency and sustainability standards and that has not become and continues to be a nonreporting entity pursuant to §?5-89-6. See Rhode Island General Laws 5-89-3
- Standards: means , with respect to an entity, the principles, guidelines, or standards adopted by the entity to assess and report the impacts of its activities on society and the environment, which principles, guidelines, or standards shall be based on or derived from third-party criteria. See Rhode Island General Laws 5-89-3