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Hayden Pester
on Nov 30, 2024

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While officers, as agents of a corporation, owe an agent's duty of obedience, diligence, and loyalty to the corporation, this is not true of directors.

Duty of Obedience

The obligation of board members and officers of an organization to follow the organization’s governing statutes and goals, acting within the scope of their authority.

Officers

Individuals appointed or elected to manage and direct the affairs of an organization, typically within corporations, armed forces, or governmental bodies.

Directors

Individuals elected by shareholders to oversee and guide the management and affairs of a corporation.

  • Characterize the differences in obligations and rights between shareholders, directors, and officers, emphasizing fiduciary responsibilities.
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JF
Julia FitzpatrickDec 02, 2024
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