# kaal:claim:2317580-006

**Claim.** Although CIAs sit outside the formal legal framework that defines fiduciary duties, they belong to the penumbra of extra legal forces that clarifies what is expected of directors.

**Type.** design  **Support.** argued

**Holds when.**

- fiduciary duty law understood as supplemented by extra legal forces

**Source quote.**

> While CIAs are outside the traditional legal framework that formally defines fiduciary duties, they fit into the penumbra of extra-legal forces11 that helps to clarify the expectations for directors.

**From.** Wulf A. Kaal, Elizabeth R. Malay, *The Role of Corporate Integrity Agreements in the Expansion of Fiduciary Duties* (2013), I. Introduction, page 6

**Cite as.** Wulf A. Kaal, Elizabeth R. Malay, The Role of Corporate Integrity Agreements in the Expansion of Fiduciary Duties (2013). SSRN: https://ssrn.com/abstract=2317580

**Verify.** sha256 of source PDF `50973e1e820aef47a4e7ffdbdcb513d03f1845643fcf4fa5910e9528a0b7dac2` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Malay%20-%202013%20-%20The%20Role%20of%20Corporate%20Integrity%20Agreements%20in%20the%20Expansion%20of%20Fiduciary%20Duties.pdf

**Topics.** law-and-legal-systems, governance-design, corporate-governance

**Keywords.** extra-legal-forces, penumbra, corporate-governance, fiduciary-duties

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