fiduciary

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Related to Fiduciary duties: Fiduciary relationship

fiduciary (fidoo´shēerē),

n a person who has a duty to act primarily for another's benefit, as a trustee. Also, pertaining to the good faith and confidence involved in such a relationship.
References in periodicals archive ?
The extension of fiduciary duties down the corporate line together with a recent change to the LLC Act imposes a requirement for attorneys drafting an operating agreement to specifically address the fiduciary duties owed by a managing member or manager of an LLC.
When that happens, creditors often look for other ways to recover what they are owed and lawsuits for breaches of fiduciary duties is one avenue they may pursue.
Clearly, fiduciary duties are pervasive in modern civil society.
A debate continues to rage, 2 years after the passage of the Dodd-Frank Wall Street Reform Act, as to whether securities brokers always owe fiduciary duties to their customers.
While the federal SAFE Act does not address fiduciary duties of mortgage brokers, several states have passed laws that go beyond the SAFE Act's minimum requirements and impose fiduciary (or fiduciary-type) duties on mortgage brokers.
Instead, the Court unnecessarily expanded the scope of directors' fiduciary duty under the Canada Business Corporations Act, (5) incorporating novel and virtually unexplained elements, and conflated the oppression remedy with fiduciary duties in a manner that will be challenging for future interpretations and judicial decisions.
Corporate fiduciary duties can be organized into the categories of good faith, honesty, candor, and loyalty.
A major impetus for imposing fiduciary duties on people in the financial services industry is concern over the potential for sales people to "dial a commission" by selecting a higher commission product that costs their customers higher fees.
If your organization sponsors a retirement plan, the administrators of that plan are fiduciaries under ERISA and personally exposed to civil liability for breach of their fiduciary duties.
This Article compares the developing case law on fiduciary duties both outside and inside Delaware and finds that across the board, there is a continuing need for the imposition of judicial remedies for abusive and opportunistic conduct.