Fiduciary Duties of Corporate Shareholders - Explained

The video discusses fiduciary duties in corporations, focusing on the roles of shareholders. It explains that shareholders generally do not owe fiduciary duties unless in closely held corporations, where their roles may require such duties. The video also covers the types of fiduciary duties: duty of care, duty of loyalty, and duty to act in good faith. It highlights the unique situation in statutory close corporations, where shareholders may have more active roles, bypassing some formalities.

How do fiduciary duties break down into duty of care and duty of loyalty?

What activities can shareholders undertake without following specific procedural rules?