§ 150.150. Who is responsible for the exercise of fiduciary powers?
48 words·~1 min read·
/us/cfr/t12/s§ 150.150·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The exercise of your fiduciary powers must be managed by or under the direction of your board of directors. In discharging its responsibilities, the board may assign any function related to the exercise of fiduciary powers to any director, officer, employee, or committee of directors, officers, or employees.