Fiduciary Duties of Board of Directors


Summary

This practice note describes the fiduciary duties of the members of a board of directors of a public or private corporation and the presumptive defense of the "business judgment rule" with respect to actions taken by the board. It does not address the fiduciary duties of corporate officers which may differ from those of directors, depending upon the case or statutory laws of the relevant state. For information on fiduciary duties of officers, see Fiduciary Duties of Officers (DE Corporation).