What are the duties of a director?

In Texas, a director is a person appointed by a corporation to oversee company operations. Directors are responsible for setting the direction of the company, establishing goals and objectives, and ensuring that they are met. They also have the authority to make decisions on behalf of the company, including the hiring and firing of staff, approving financial transactions, and making decisions about investments or borrowing. Directors have a duty to act in the best interests of the company, which is known as the duty of loyalty. This means they must put the interests of the company before their own, and must not use their position to gain any personal advantage. Directors also have a duty to act with care and skill. This means they must use the knowledge, skill and experience expected of someone in their position to make decisions that are in the best interests of the company. Directors have an obligation to disclose any conflict of interest they may have. This includes any situation where the director’s personal interests may be in conflict with the company’s interests. Lastly, directors are responsible for acting within the company’s constitution. This means they must adhere to any rules laid down in the company’s articles of incorporation or bye-laws.

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What are the duties of a director?

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