For each question, choose the fiduciary duty that most applies to the situation.
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Question 1 of 3
1. Question
Native Plants Alliance needs space for storing tools and plants for work parties. Miriam, an Alliance board member, has property that would be perfect for the Alliance and wants to lease the property to the Alliance at a below market rate.
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Question 2 of 3
2. Question
Collabeate’s bylaws require that a quorum be present in order to take board action. An amazing opportunity has presented itself and Collabeate holds an emergency board meeting to approve moving forward with the opportunity without a quorum present.
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Question 3 of 3
3. Question
PlaySpace was formed two years ago by a small group of parent volunteers. The founder of the organization managed setting up the organization’s financial structure. At every board meeting, the founder, who is a board officer, gives a financial report but has never shared a finance statement with the board. Select the two most applicable duties for this situation.
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