A board of directors has a fiduciary responsibility in a general sense because they must make decisions that affect the corporation financially and legally. Board members can't avoid fiduciary responsibility by hiring an expert, because the board is ultimately responsible for its decisions.3 Note...
Directors and officers liability insurance, often shortened to D&O insurance, is a type of business insurance that pays the costs of lawsuits or claims arising from allegations that a director or officer breached their fiduciary responsibility while serving the company. Without a D&O insurance policy...
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Fiduciaries are certified and appointed by a Superior Court (usually the Probate Division). Byanon28030— On Mar 10, 2009 I am the grantor of a irrevocable trust, can I sign as the fiduciary on the 1041 grantor trust income tax return ?
It is stated that Article 4 of the AMO Code addresses fiduciary responsibility regarding the protection of funds.McCarthyPRESIDENTWilliamPRESIDENTEBSCO_bspJournal of Property Management
pretenses as to its coverage. Perhaps not having the coverage and masking it under some other coverage, and using words to make it sound good is unethical. With people, especially insurance or finances, that agent has a fiduciary responsibility to look out for the well being of their client...
In online transactions, an escrow service may be used to hold the funds until the buyer receives the product and confirms that it is as described in the listing. In a mortgage refinance, the lender may hold the funds in an escrow account to ensure that property taxes and insurance premiums...
There are a variety of types of surety bonds or agreements. The first type is called a license or permit surety bond, and it guarantees that a professional such as a mortgage broker, insurance agent or car dealer obeys the laws regarding the performance of its duty. Similarly, public officia...
Deferred tax is the tax amount that is to be paid later. It is a nominal amount of asset or liability that reflects the company's tax. It can be a deferred tax asset or a deferred tax liability.Answer and Explanation: Become a Study.com member to unlock this answer! Cre...
An adult is designated as the legal guardian of a minor child in a guardian/ward relationship. As the fiduciary, the guardian is tasked with ensuring that all matters related to the daily welfare of the child are dealt with responsibly and in the best interests of the child. This care can...