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The nonprofit board of directors is subject to the same three main legal obligations as any corporation: "duty of care," "duty of loyalty," and "duty of obedience."

What three board classifications are there?

Here are a few popular board types:

The main board of an organization receives recommendations and guidance from advisory boards. ...

Board of directors: A board of directors has the power to direct and manage an organization. ...

A managing or executive board oversees a company's day-to-day operations.

Members of the management who oversee the company on behalf of the owners or shareholders sit on the board of directors. During an Annual General Meeting (AGM) called by shareholders, directors are chosen.

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