The conversation between human and AI assistant.
What are the responsibilities of a board of directors?
Are there any legal requirements for board members?
Yes, board members have legal duties and responsibilities that they must uphold. These duties include fiduciary responsibility, which means acting in the best interest of the company and its shareholders, duty of care, which means making informed and reasonable decisions based on available information, and duty of loyalty, which means avoiding conflicts of interest and putting the interests of the company first.