Directors, board officers, and senior operating officers are deemed to stand in a fiduciary relationship to the credit union, and must discharge the duties of their respective positions:

     (1) In good faith;

     (2) With the care an ordinarily prudent person in a like position would exercise under similar circumstances; and

     (3) In a manner the director or officer reasonably believes to be in the best interests of the credit union.

[2001 c 83 § 9; 1997 c 397 § 19.]