...corporation, and shall discharge the duties of their respective positions in good faith, and with that diligence, care and skill which ordinarily prudent...exercise under similar circumstances in like positions." That is a mighty fine thing to remember, and it is a good thing to advise clients on — just the relationship...

...which the payment is to be made LGS, sec. 1106) . I. Directors who knowingly or without exercising that diligence, care, and skill which ordinarily prudent men would exercise under similar conditions voted in favor thereof shall be liable, jointly and severally, to creditors of the corporation...

...Exercise Due Care — The So-called Business Judgment Rule A director should exercise his authority with that degree of diligence, care and skill which...exercise under similar circumstances in like positions. A director should regularly attend board meetings, should keep generally informed about the company's...

...trust standard.2 New York's Not-for-Profit Corporation Law provides that directors and officers must discharge their duties in good faith and with that degree of diligence, care and skill that an ordinarily prudent man would exercise under similar circumstances in like positions.3 Directors...

..."Directors and officers shall discharge the duties of their respective positions in good faith and with the degree of diligence, care and skill which ordinarily...would exercise under similar circumstances in like positions."1 On many occasions board members carry out responsibilities in accordance with the spirit...

...example, New York's Not-for-Profit Corporation Law provides that directors and officers shall exercise the "degree of diligence, care and skill which ordinarily...would exercise under similar circumstances in like positions."3 According to another commentator, "Care means competence in performing the director's...

...of loyalty and care: Directors and officers shall discharge the duties of their respective positions in good faith and with that degree of diligence, care...exercise under similar circumstances in like positions. 27 Delaware does not have a specific statutory test, but indirectly provides one by allowing indemnification...

...state law fiduciary duties of care and loyalty. The duty of care generally requires that directors act in good faith and with that degree of diligence, care and skill that a person of ordinary prudence would exercise under similar circumstances in a like position. Sec...

...circumstances. For illustrative language, consider New York law, which requires a director to discharge his duties "in good faith and with that degree of diligence,...would exercise under similar circumstances in like positions."9 This standard generally applies to directors regardless of whether they are compensated...