What is a fiduciary duty?

A fiduciary duty is a duty that’s imposed by the law, it’s in fact the highest duty imposed by the law. It requires that the person act in the best interest of, in this case, the association that they act as a reasonably prudent person would, and they act after they make a reasonable inquiry. In other words, they become knowledgeable before the make a decision, they don’t just shoot from the hip.