This blog post is part one of a three-part series on fiduciary responsibilities.
You’ve been asked to serve as a nonprofit director or officer, or perhaps you are already doing so. What legal responsibilities do you take on as a director or officer? In legal terminology, these responsibilities are known as “fiduciary” duties, the first of which is the duty of care. Additional fiduciary duties of loyalty and obedience will be addressed in subsequent articles.
The Basics of Fiduciary Duties