Board of Directors
　　·Declaration of Distributions
　　·Fiduciary Duties
　　-Right to Pay
　　-Liability for Unlawful Distributions/Dividends
　　-Duty of Loyalty
　　-Corporate Opportunity Doctrine
　　·Indemnification
　　-Generally…except in a shareholder derivative suit
　　(股东派生诉讼)
　　-D&O insurance
　　Officers
　　·Selection and Removal
　　·Authority(Actual / Apparent)
　　·Fiduciary Duties and Indemnification
　　·May also Serve as Directors
　　¨Good corporate governance-majority of the board should be independent
　　·Not required to be Shareholders
　　Sarbanes-Oxley Act 2002
　　·Regulation includes：
　　-Title I/Title II/Title III/Title IV/Title VIII
　　BEC only covers
　　-Corporate Responsibility(Title III)
　　-Enhanced Financial Disclosures(Title IV)
　　-Fraud(Title VIII)
　　Originally only for public companies，then become best practices for all companies
　　Sarbanes-Oxley Act 2002
　　·Background for Sarbanes-Oxley Act 2002
　　·Caused by a series of frauds and scandals：
　　Enron，Tyco，WorldCom，etc
　　-Named after Senator Sarbanes and Rep.Oxley
　　-Enacted on July 30，2002
　　-11 titles for the Act
　　·Corporate Responsibility(Title III)
　　·Enhanced Financial Disclosures(Title IV)
　　·Fraud(Title VIII)