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This Concept Map, created with IHMC CmapTools, has information related to: Major - Fiduciary Duties, THE DUTY OF CARE A duty of care requires that directors excercise responsibiliities in good faith with a certain amount of diligence, attention, care, and skill. Moreover, the director must make decisions on an informed basis, in good faith, with the honest belief that the action is in the best interest of the organization. * directors shall not be liable for harm to the organization for exercise of their judgement as long as they exercise care - absent fraud, illegality, etc. ???? Fiduciary Duties, UTAH LAW - Utah Code Ann. § 16-6a-822 Under Utah Law, as a director or officer you owe fiduciary duty to your organization that requires you to act loyally and in good faith without assuming any position in conflict with interests of organization. ???? THE DUTY OF CARE A duty of care requires that directors excercise responsibiliities in good faith with a certain amount of diligence, attention, care, and skill. Moreover, the director must make decisions on an informed basis, in good faith, with the honest belief that the action is in the best interest of the organization. * directors shall not be liable for harm to the organization for exercise of their judgement as long as they exercise care - absent fraud, illegality, etc., What are my legal duties as a director? ???? UTAH LAW - Utah Code Ann. § 16-6a-822 Under Utah Law, as a director or officer you owe fiduciary duty to your organization that requires you to act loyally and in good faith without assuming any position in conflict with interests of organization., UTAH LAW - Utah Code Ann. § 16-6a-822 Under Utah Law, as a director or officer you owe fiduciary duty to your organization that requires you to act loyally and in good faith without assuming any position in conflict with interests of organization. ???? THE DUTY OF UNDIVIDED LOYALTY A duty of undivided loyalty requires that a director shall not use their position for personal advantage. Basically, this means the director has a duty to disclose and offer opportunities to the organization instead of taking them for personal opportunism. This requires that directors shall make decisions objectively and refrain from participation in any conflicts., UTAH LAW - Utah Code Ann. § 16-6a-822 Under Utah Law, as a director or officer you owe fiduciary duty to your organization that requires you to act loyally and in good faith without assuming any position in conflict with interests of organization. ???? THE DUTY TO ACT WITHIN SCOPE OF AUTHORITY The duty to act within the scope of authority requires directors to understand and abide by the specific duties outlined by the organization's bylaws, articles of incorporation, and Utah law.