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A board of directors is an executive committee that supervises the activities of a business, a nonprofit organization, or a government agency . The powers, duties, and responsibilities of a board of directors are determined by government regulations (including the jurisdiction's corporate law) and the organization's own constitution and by-laws ...
Directors' duties. Directors' duties are a series of statutory, common law and equitable obligations owed primarily by members of the board of directors to the corporation that employs them. It is a central part of corporate law and corporate governance. Directors' duties are analogous to duties owed by trustees to beneficiaries, and by agents ...
Definitions. "Corporate governance" may be defined, described or delineated in diverse ways, depending on the writer's purpose. Writers focused on a disciplinary interest or context (such as accounting, finance, law, or management) often adopt narrow definitions that appear purpose-specific. Writers concerned with regulatory policy in relation ...
Director (business) The term director is a title given to the senior management staff of businesses and other large organizations. The term is in common use with two distinct meanings, the choice of which is influenced by the size and global reach of the organization and the historical and geographic context.
The corporation's name might consist of its governing board members' title (for example, The Trustees of Princeton University is a New Jersey nonprofit corporation). These board members (trustees, regents, etc.) are fiduciaries for the corporation. In some cases, the institution might not have separate legal personhood; the trustees transact in ...
A board of directors is exposed to a variety of legislated liabilities, fiduciary and other duties. Responsibilities include unpaid wages, unpaid taxes, environmental damage, etc. By subjecting directors to such liabilities and fiduciary, directors are forced to make decisions and establish policies in a way that minimizes risks.
A board of education, school committee or school board is the board of directors or board of trustees of a school, local school district or an equivalent institution. [ 1][ 2][ 3] The elected council determines the educational policy in a small regional area, such as a city, county, state, or province. Frequently, a board of directors power ...
In corporate governance, a governance board also known as council of delegates are chosen by the stockholders of a company to promote their interests through the governance of the company and to hire and fire the board of directors . In civil service, a supervisory board or regulatory board is often a legislatively independent body with ...