I think there is a published handbook on Director's responsibilities etc. I can't discuss STLS, but mostly you take some risk of being brought to court if you don't act in the best interests of shareholders.
In a nut shell, ask all the hard questions of those in management, and be a super advocate of stockholders' trust. Other than that, just make the board meetings, either in person or by telephone etc.
Good luck in your adventure. Glad your still around. I haven't been on line for a while, so I just got your mail.
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