“To Protect and To Serve”: The Duties and Responsibilities of Directors of Florida Not-For-Profit Corporations
As leaders in their communities and as advisors to their clients, many attorneys have had the privilege and opportunity to volunteer and/or work with Florida Not For Profit corporations (“NFP”). While every NFP is unique in its mission and organization, the duties and obligations of an individual serving as a director of a Florida NFP are not necessarily novel. The roles of NFP directors are defined by the Articles of Incorporation, Bylaws, and other governing documents of the NFP, by common law, by Florida Statutes (“F.S.”) Chapter 617 Not For Profit”), and by applicable federal regulations. Briefly, directors of a Florida NFP owe a duty of care, a duty of loyalty, and a duty of obedience.