Welcome to EO Radio Show - Your Nonprofit Legal Resource. Episode 90 is a refresh of the third of the original episodes published in the summer of 2022. During these dog days of summer, it's a good time to bring back some of our earliest episodes that cover fundamental topics that nonprofit leaders and aspiring leaders need to understand.

In this refresh of episode three, Cynthia Rowland covers the general principles of state law rules that address corporate governance. Under state law, the business and See more +

Welcome to EO Radio Show - Your Nonprofit Legal Resource. Episode 90 is a refresh of the third of the original episodes published in the summer of 2022. During these dog days of summer, it's a good time to bring back some of our earliest episodes that cover fundamental topics that nonprofit leaders and aspiring leaders need to understand.

In this refresh of episode three, Cynthia Rowland covers the general principles of state law rules that address corporate governance. Under state law, the business and affairs of a nonprofit corporation must be managed and all corporate powers are to be exercised by and under the direction of the board of directors. Each director has personal duties to the corporation. Principally, these duties are the duty of care and the duty of loyalty.

This "nonprofit basics" episode addresses director duties and best practices for the typical nonprofit public benefit corporation. In the first section, Cynthia summarizes the duty of care, including a discussion of the manner in which a careful director meets this standard. The second section discusses the duty of loyalty with a particular emphasis on dealing with actual and potential conflicts of interest.

Since this episode was first published, we've added the podcast to our YouTube channel, so listeners might want to look over the playlist on our channel that covers all the basics and our broad coverage of the formation mechanics in 32 states, so far. Take a look at the show notes for updated links.

Show Notes: www.fbm.com/exempt-organizations/publications/refresh-nonprofit-basics-director-duties-and-best-practices-for-the-typical-nonprofit-public-benefit-corporation/

If you have suggestions for topics you would like us to discuss, please email us at eoradioshow@fbm.com. Additional episodes can be found at EORadioShowByFarella.com.

DISCLAIMER: This podcast is for general informational purposes only. It is not intended to be, nor should it be interpreted as, legal advice or opinion. See less -