Author: Иброҳимов, Азимжон Абдумўмин ўғли

Annotation: In corporate law, the fiduciary duties of the governing body of a legal entity are one of central issues. Proper and effective management of a legal entity is largely determined by the extent to which the fiduciary duties of the governing bodies are regulated and adhered to. Failure to comply with fiduciary duties is also the basis for liability of the governing body to the legal entity. This paper analyzes the fiduciary duties of the management bodies of legal entities based on the legislation and judicial practice of the United States and the Russian Federation and discusses the prospects for applying and improving these duties in the corporate law of the Republic of Uzbekistan.

Keywords: fiduciary duties, duty of loyalty, duty of due care, duty of good faith, interests of a legal entity, rationality and good faith