Duty to Inform

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D

Duty to Inform

Definition

A board of directors’ duty to inform itself, prior to taking action, of all material facts that are reasonably available to it. In the trust context, the duty to inform refers to a trustee’s duty to inform the trust’s beneficiaries about decisions that impact the trust or the trust’s financial activities.

Related rules

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— Brehm v. Eisner

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— Cook v. Brateng

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