Fiduciary Duty

The eithcal and legal responsibility of a board and its members to act in the best interests of the organization it represents.

Fiduciary duties cover:
Duty of Care - to make informed decisions.
Duty of Loyalty: Board members must prioritize the interests of the organization over their personal interests.
Duty of Obedience: Board members must make sure that their organization complies with all applicable laws and regulations.