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Newport Beach Business Lawyer.
Do you need the assitance of an Orange County Business Lawyer? Our attorney is experienced in corporate and business law. Orange County Business & Corporate Lawyer Orange County Corporate Lawyer.
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Corporations Law: Director's Duites
Duties of the Board of Directors
The corporation’s Board of Directors oversee the implementation of the corporation’s business purposes. The Board selects the Officers who will manage the corporation. The Board has fiduciary duties to act in the best interests of the corporation, and to put the interests of the corporation above their own. They must not create or become involved in conflicts of interest,such as, for example, selling real property they own to the corporation without full disclosure of the terms involved, or, usurping a corporate opportunity to invest in a business related to the corporation’s business purpose. Any such act can create personal liability for breach of fiduciary duty in that Board member. corporation’s business purpose. Any such act can create personal liability for breach of fiduciary duty in that Board member.
The Board has fiduciary duties to act in the best interests of the corporation, and to put the interests of the corporation above their own. They must not create or become involved in conflicts of interest, such as, for example, selling real property they own to the corporation without full disclosure of the terms involved, or, usurping a corporate opportunity to invest in a business related to the corporation’s business purpose. Any such act can create personal liability for breach of fiduciary duty in that Board member.
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