Directors must place the interests of the corporation ahead of personal gain.
The concern with transactions with directors/officers relates to the requirement that an individual should avoid using his or her position to obtain improperly a benefit for himself or herself, or an advantage which properly belongs to the corporation. The fact that the transaction is one in which the director has a personal interest is usually less significant than whether it was fair to the corporation at the time the decision was made and whether the decision was reached in an impartial board environment. This white paper reviews the prevalence of conflicts and how, in many situations, interested transactions are a healthy necessity.
Agenda
Faculty
Anita Pelletier
Nixon Peabody LLP
Anita L. Pelletier
- Serves as counsel in Nixon Peabody’s nonprofit practice group
- Advises nonprofit organizations in matters relating to legal requirements and best practices in connection with governance and operational matters
- Conducts regular seminars and workshops on nonprofit governance, issues relating to tax-exempt status, and charitable solicitations
- Member of the National Association of College and University Attorneys (NACUA), American, New York, and Monroe County bar associations, and involved with the Greater Rochester Association of Women Attorneys
- Received numerous awards for her commitment to pro bono service
- Selected by peers for inclusion in The Best Lawyers in America© in the field of Nonprofit/Charities Law, has been listed since 2017
- J.D. degree, summa cum laude, Syracuse University College of Law; M.P.A degree, Maxwell School of Public Administration; B.A. in economics, St. John Fisher College
- Can be contacted at [email protected] or 585-263-1164
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