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Nonprofit Board Liability
"Act in good faith." This is the expectation and standard used in the courts to assess the extent of liability and responsibility for actions taken by individual board members.
According to Legal Dictionary.com, acting in good faith is the "honest intent to act without taking an unfair advantage over another person or to fulfill a promise to act, even when some legal technicality is not fulfilled. The term is applied to all kinds of transactions." I…Continue
Added by Mike Burns on January 15, 2016 at 1:05pm — No Comments