Due Diligence Policy

Adopted December 10, 2009

A director shall discharge his/her duties as a director, including his/her duties as a member of a committee:
1. in good faith;
2. with the care that an ordinarily prudent person in a like position would exercise under similar circumstances; and
3. in a manner the director reasonably believes to be in the best interest of the university.
In discharging his/her duties, a director is entitled to rely on information, opinions, reports, or statements, including financial statements and other financial data, if prepared or presented by:
1. one or more officers or employees of the university or foundation who the director reasonably believes is reliable and competent in the matters presented;
2. legal counsel, public accountants, or other persons as to matters the director reasonably believes are within the person's professional or expert competence;
3. a committee of the Foundation Board of which the director is not a member, as to matters within its jurisdiction, if the director reasonably believes the committee merits confidence; or
A director is not acting in good faith if the director has knowledge concerning the matter in question that makes reliance otherwise permitted unwarranted by Section 2.
A director is not liable to the university, foundation, a member, or any other person for any action taken or not taken as a director, if the director acted in compliance with this policy.

Winthrop University Foundation
Phone: 803 / 323-2229
Fax: 803 / 323-4550

302 Tillman Hall
Rock Hill, SC 29733, USA