Directors and officers of an association shall be deemed to stand in a fiduciary relation to the association and shall discharge the duties of their respective positions in good faith and with that diligence, care, and skill which ordinary, prudent persons would exercise under similar circumstances in like position.
RCW 33.16.060
Fiduciary relationship of directors and officers.
Applied in 1 court decision — leading case 6 Wash. App. 494 - Williams v. Young (1972)
Most recently applied in 6 Wash. App. 494 - Williams v. Young (February 1972)
1982 c 3 s 32; 1945 c 235 s 20; Rem
Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.