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https://www.law.cornell.edu/wex/duty_of_care#:~:text=The%20duty%20of%20care%20is%20a%20fiduciary%20duty,corporation%2C%20not%20the%20corporation%E2%80%99s%20stakeholders%20or%20broader%20society.
https://www.law.cornell.edu/wex/duty_of_care
The American Law Institute’s Principles of Corporate Governance defines the duty of care as the duty by which a corporate director or officer is required to perform their functions in good faith; in a manner that they reasonably believe to be in the best interests of the corporation; and with the care that an ordinarily prudent person would reasonably be expected to exercise in a like …
https://wagenmakerlaw.com/blog/directors%e2%80%99-and-officers%e2%80%99-duty-care-%e2%80%93-pay-attention-and-take-responsibility
The duty of care is generally evaluated according to the "business judgment rule," under which directors and officers are presumed to make decisions on an informed basis and in good faith. Accordingly, to stay within the business judgment rule’s protection, directors and officers must take the same care that an ordinary and prudent person would exercise under …
https://www.stimmel-law.com/en/articles/corporate-officers-duties-and-fiduciary-responsibilities
1) Duty of Care – directors and officers must use care and be diligent when making decisions on behalf of the... 2) Duty of Loyalty – directors and officers must have an undivided duty of loyalty to the corporation and shareholders. 3) Duty of Good Faith – Some states, in addition to duty of ...
https://legalvision.com.au/directors-duty-of-care-and-diligence/
As a company director, one of your duties is to exercise care and diligence when carrying out your role. There are a range of consequences which can arise if you breach your director’s duties, including: civil penalties; disqualification as a company director; orders to pay compensation; or. in serious cases, criminal charges leading to jail time. It is therefore …
https://www.investopedia.com/terms/d/duty-care.asp
https://www.oflaherty-law.com/learn-about-law/fiduciary-duties-of-corporate-officers-and-director
What are the Fiduciary Duties Directors and Corporate Officers Take On? Duty of Care: Directors and corporate officers must use care and be diligent when making decisions on behalf of the... Duty of Loyalty: This fiduciary duty states that corporate officers and directors must always put the ...
https://www.wolterskluwer.com/en/expert-insights/powers-and-duties-of-corporation-directors-and-officers
As persons in control of the property of others, directors are fiduciaries. As such, they must act in the best interests of those they serve. Chapter 6 —Directors and Officers 39 Directors owe a duty of care to their corporation. This duty requires directors to stay informed about corporate developments and to make informed decisions.
https://www.kerr-russell.com/court-ruling-offers-new-consideration-for-corporate-officers-directors-and-llc-managers/
Directors and officers of corporations have statutory and common law duties to shareholders. These fiduciary duties include the duty of care and the duty of loyalty. Managers of LLCs have similar duties to members of LLCs. A breach of these fiduciary duties can lead to a lawsuit and personal liability for directors, officers, and LLC managers.
https://corpgov.law.harvard.edu/2021/02/21/recent-trends-in-officer-liability/
More than a decade ago in the seminal case Gantler v. Stephens, the Delaware Supreme Court clarified that officers of Delaware corporations owe the same fiduciary duties of care and loyalty that directors owe to the corporation and its stockholders. While directors and officers owe the same fiduciary duties, they are not entitled to the same defenses.
https://www.sandiegobusinesslawyerblog.com/fiduciary-duties-of-officers-a/
The duty of care requires a corporate officer or director to carry out his duties as would any ordinarily prudent person in similar circumstances. For example, a corporate officer or director might violate his duty of care by contracting to buy a company without first conducting due diligence to find out if it is an economically sound decision.
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