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Standards Of Conduct For Directors Of Nonprofit Corporations, James J. Fishman

Elisabeth Haub School of Law Faculty Publications

This Article analyzes the standards of care and loyalty that should apply to directors of nonprofit corporations. It suggests that the movement toward corporate law principles neither reflects the differences in the types of nonprofit corporations nor provides a coherent rationale for the conduct regulated. The "trust law"-"corporate law" distinction has often centered upon the label to be applied rather than on an analysis of the principles involved. Too often the selection of the label has determined the result. At other times, the label has been used as a convenient rationalization of a socially desirable conclusion. This Article will attempt …