For a Business Shareholder in New York or New Jersey What are the Fiduciary Duties?

A: The fiduciary duties and obligations of a shareholder in a business in New York or New Jersey must follow very specific rules but these rules can be summarized into a very general description. The overall fiduciary duties of a shareholder are to (a) to not assume or engage in personal interests which are incompatible with the interests of the corporation and (b) never to allow their private interests to conflict with corporate interests.

When dealing with a shareholder dispute it is important to understand your rights and the fiduciary duties and obligations that are expected of shareholders.

For more information about fiduciary duties we recommend reading:
"How Courts Explain and Describe "Fiduciary" Duties and Obligations Between Partners, Shareholders, and Members"

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