The Fiduciary Duty of Board Members
INTERVIEW ON THE PRICE OF BUSINESS SHOW, MEDIA PARTNER OF THIS SITE.
Recently Kevin Price, Host of the nationally syndicated Price of Business Show, interviewed Alexander Paykin.
The Alexander Paykin Commentaries
On a recent Price of Business show, Host Kevin Price interviewed Alexander Paykin, Esq., a commercial and real estate litigation and complex transactions attorney in New York, and the founder and Managing Director of The Law Office of Alexander Paykin, P.C., who regularly counsels corporate, non-profit, condo and coop boards and board members as to all things related to commercial and real estate law. In addition to managing his own firm, Mr. Paykin teaches for the American Bar Association, the New York State Bar Association, and various other state and local Bar associations throughout the country. He sits on multiple corporate and non-profit boards and has been a board member and officer in both commercial and residential condominiums. To read more about Mr. Paykin, please visit https://www.paykinlaw.net/attorneys/alexander-paykin-esq.
They discussed the importance of understanding one’s fiduciary duties as a member of a board, whether in a corporate setting, at a non-profit or in a condominium, cooperative or HOA setting. Mr. Payking explained the three types of fiduciary duties and examples of the kinds of breaches that can get a board member in trouble, even to the point of losing their coverage under the relevant insurance policies in place to protect them against the mistakes that they might make while in office.