Fiduciary duty is one of the central responsibilities of the Board of Directors. A board member is entrusted with the chamberís resources to be used for a specific and intended purpose. These resources must be used in the best interest of the organization. The board member must not put herself in a situation in which a conflict of interest could arise. If a conflict of interest does arise, it is the board memberís duty to act in the best interest of the chamber above any other interest, including her own. The board member must also be attentive and careful enough to ensure that her fiduciary duty is fulfilled.
Articles & Online Resources
Financial Management Samples
View more Financial Management examples in ACCE's Samples Library
Related Chamberpedia Topics
| Governance and Leadership
| Fiduciary ResponsibilityLast Updated: 7/21/2017