Fiduciary Duty

Full definition — Fiduciary duty is the highest standard of care in law, requiring board members to act honestly, in good faith, and in the best interest of the charter school and its students. It encompasses three sub-duties: the duty of care, the duty of loyalty, and the duty of obedience. Breaching fiduciary duty can expose individual board members to personal liability.

Why It Matters

Understanding fiduciary duty is foundational for every board member because it defines the legal and ethical baseline for all board decisions. Failure to uphold this duty can result in legal action, charter revocation, or loss of public trust.

Related Terms

• Duty of Care
• Duty of Loyalty
• Duty of Obedience
• Fiduciary Responsibility