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Officers, Directors, and Trustees

A New York court ruled that the officers of a nonprofit organization violated their fiduciary duties and could be removed from office.

Key point 6-07.03. Church board members have a fiduciary duty to use reasonable care in the discharge of their duties, and they may be personally liable for damages resulting from their failure to do so.
Church Officers, Directors, and Trustees

* A New York court ruled that the officers of a nonprofit organization violated their fiduciary duties and could be removed from office by the attorney general and ordered to pay damages. The state attorney general of New York sued the officers of a charity seeking to hold them personally liable and financially accountable for amounts totaling more than $120,000 which they allegedly received in violation of their fiduciary duties. The attorney general also sought to remove two of the officers and permanently bar them from ever serving as board members of a public charity. One of the officers freely admitted that he charged several personal expenses ...

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Posted:
  • July 1, 2004