WebApr 24, 2024 · “The body corporate must indemnify a trustee who is not a managing agent against all costs, losses and expenses arising as a result of any official act that is not in breach of the trustee's fiduciary obligations to the … WebThe trustees are the executive body of the body corporate, appointed to make day-to-day decisions on behalf of all owners, and they do not have to call a meeting of owners every …
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http://saflii.austlii.edu.au/za/cases/ZAKZPHC/2024/25.html WebCHAPTER I: PRELIMINARY 1. Short title commencement and application 2. Definitions CHAPTER II : BOARD OF TRUSTEES AND COMMITTEES THEREOF 3. Constitution of Board of Trustees 4. First Board of Trustees 5. Board to be body corporate 6. Disqualification for office of Trustee 7. Term of office of Trustees 8. Vacation of office of Trustees 9. santosh shoban father
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In the common course of their duties, corporate trustees will generally do all of the following: -Manage and administer the trust according to its terms and intent. This includes making distributions to beneficiaries, managing the trust’s investments, filing trust taxes, selling property or real estate as instructed, … See more While specific corporate trustee laws may vary a bit from state to state, in almost every state, a corporate trustee has the following fiduciary duties to the trust … See more Unfortunately, corporate trustees get sued all the time. Some common claims corporate trustees contend with are: -Mishandling or mismanagement of assets … See more Whatever the actual legal basis is for a corporate trustee lawsuit, the underlying reason for it is often that the beneficiaries, creditors, or co-trustees do not have a … See more Oftentimes, yes. Most trusts contain provisions authorizing the trustee to use trust funds to defend themselves and the trust in a potential lawsuit. These provisions … See more WebOct 30, 2024 · Roles and responsibilities of a board of trustees One of the board of trustees' primary responsibilities is to uphold the fiduciary duty to protect all of the organization's … WebThe owners in turn elect a board of trustees who will administer the affairs of the Body Corporate. WHO MAY BE A TRUSTEE AND HOW ARE TRUSTEES ELECTED. The number … santoshpur to sealdah train time