Exploration highlights the need for clearer explanations of fiduciary responsibilities for nonprofit board members.
Upon onboarding and orientation, nonprofit board members should all be well versed in the fiduciary duties that their service requires. But while they might have a basic understanding and can list the three main fiduciary duties that apply—namely, duty of care, duty of loyalty and duty of obedience—the last one in particular might need additional explanation, experts say.
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