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Outside counsel gives SFHSS board comprehensive fiduciary training; members press for regular refreshers
Summary
Ice Miller counsel Chris Sears gave a detailed fiduciary training to the San Francisco Health Service System board covering duties of loyalty and prudence, delegation and monitoring, vendor selection, fiduciary liability and documentation; commissioners recommended periodic refreshers and staff to coordinate legal guidance on indemnification.
Chris Sears of the law firm Ice Miller delivered a detailed fiduciary training to the San Francisco Health Service System board on Aug. 12, focusing on the legal duties and practical steps trustees must take when overseeing health plans and trust funds.
Sears outlined who qualifies as a fiduciary, the sources of fiduciary duties (charter provisions and common law, with federal ERISA standards cited as a guide), and core duties including loyalty (exclusive‑benefit rule), prudence (including diversification and…
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