Renewable Innovations Inc (REII)

[Drugdoctor]

Ever heard of Fiduciary Duties of Corporate Officers and Directors - Utmost Good Faith?
Choosing a Direction
If you are an officer or director of a corporation, you are a fiduciary. If you are an officer or director of a corporation, you have fiduciary duties to the corporation and to the shareholders (including to minority shareholders). In some cases, corporate officers and directors may even owe fiduciary duties to creditors of the corporation. By virtue of being an officer or director of a corporation, you have fiduciary duties irrespective of the fact that you may never have expressly agreed to assume the duties, responsibilities and potential liabilities of a fiduciary. Because officers and directors of corporations have such a strong influence over the conduct of the affairs of the corporation, the law has deemed it necessary and just to impose fiduciary duties upon them.

What Level of Duty Does a Fiduciary Have?
A phrase used by the courts very frequently to describe the fiduciary duty of a corporate officer or director is "utmost good faith." Corporate officers and directors, as fiduciaries, have an obligation to refrain from acting in their own best interests, with respect to decisions made in their fiduciary capacity, where doing so would conflict with the interests of the corporation or its shareholders. The responsibilities of corporate officers and directors are unlike, for example, the responsibilities of mere parties to a contract, or parties doing business with one another, who can, and indeed, are expected to act in their own best interests (even if doing so directly conflicts with the other party’s interest).

https://www.rpepperlaw.com/fiduciary-duties-of-corporate-officers-and-directors-utmost-good.html