The business judgment rule and other protections for the conduct of not-for-profit directors.
The authors review the Business Judgment Rule as applied to a not-for-profit director's duty of care, with particular emphasis on the different forms of state statutory liability shields that serve to enhance the protections of the Rule. They also examine current trends in enforcement of breach of fiduciary duty of care standards, and provide a series of specific recommendations for not-for-profit boards to consider implementing as a means of increasing the likelihood of affording such protections to individuals serving as directors.
Peregrine
M W
MW
Gardner, Carton & Douglas, Chicago, Illinois, USA.
Schwartz
J R
JR
D000288:Administrative Personnel / Q000331:legislation & jurisprudence*; D016361:Bankruptcy; D002608:Charities / Q000331:legislation & jurisprudence / Q000458:organization & administration*; D003659:Decision Making, Organizational; D006075:Governing Board; D006788:Hospitals, Voluntary / Q000331:legislation & jurisprudence / Q000458:organization & administration; D016365:Liability, Legal; D008318:Malpractice / Q000331:legislation & jurisprudence; D009939:Organizations, Nonprofit / Q000331:legislation & jurisprudence / Q000458:organization & administration*; D012941:Social Responsibility; D014481:United States