What it means to have fiduciary responsibilities
From: Norman Gauss (normangausscharter.net)
Date: Sun, 8 Jul 2012 22:26:42 -0700 (PDT)
The following is a quote from the Wikipedia article on Fiduciary:

 

"It has been said that fiduciaries must conduct themselves "at a level
higher than that trodden by the crowd"
<http://en.wikipedia.org/wiki/Fiduciary#cite_note-1> [2] and that "[t]he
distinguishing or overriding duty of a fiduciary is the obligation of
undivided loyalty." <http://en.wikipedia.org/wiki/Fiduciary#cite_note-2> [

 

In Cohousing Organizations the "crowd" is the entire community.  The Board
then must conduct itself at a higher level.  The entire community is not
obligated to act with undivided loyalty, but the Board is.

 

Norm Gauss

Oak Creek Common

Paso Robles, CA


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