Page 30 - Directors manual final
P. 30
• Directors cannot directly or indirectly receive any profits from their position s of Directors, and
• Directors may not be remunerated in any capacity , and
"The first of these duties, commonly referred to as the "fiduciary duty" or "duty of loyalty", requires
directors to give the corporation's best interests unqualified priority over their personal interests
and any other competing claims. The director's fiduciary duty is similar to the duty owed by a trus-
tee to trust beneficiaries. In general terms, this means that actual or apparent conflicts of interest
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