WebDuty of obedience is about respecting the limits of the board’s power, and using that power to help the organization fulfill its mission — while also respecting and obeying the law. … WebDuty of obedience : a. Generally, agents are under a duty to obey the lawful and reasonable instructions of the principal. Where the principal's instructions are clear, the agent does not normally have any discretion and must follow those instructions, unless an agent is a professional and the principal relies on the agent to exercise his ...
OBEYING THE LAW Legal Theory Cambridge Core
WebApr 8, 2024 · The fiduciary duty of loyalty of board members is the responsibility to act in the interests of the non-profit, those it serves, and those donating funds for operations, as opposed to their own self-interest. Again, the presence of written controls that are routinely practiced is very important to minimize risk. WebFiduciary Duties of Care, Obedience and Loyalty The other three fiduciary duties of care, obedience and loyalty describe how the fiduciary duty of oversight is to be carried out. The fiduciary duty of care states that the board must be knowledgeable of all reasonably available information and act with appropriate prudence and care. optio cloud
(5) Agent
WebNamely, there are three fiduciary duties: (i) the duty of obedience, (ii) the duty of care, and (iii) the duty of loyalty. While the duty of loyalty and the duty of obedience are fairly self-explanatory and straightforward, the duty of care can be far more tricky to navigate. WebJan 4, 2024 · Obedience is defined as “dutiful or submissive compliance to the commands of one in authority.” Using this definition, we see the elements of biblical obedience. “Dutiful” means it is our obligation to obey … WebSep 6, 2024 · 1.) O – Obedience. – An agent is to promptly and efficiently follow all lawful client requests. Note, I said ‘lawful’ requests. Agents need to be in full compliance with all laws, including disclosure laws, fair housing laws, and all others. 2.) L – Loyalty. optins tax filing