Which of the following statements is true regarding the fiduciary duty?
A. A director's fiduciary duty to the corporation may be discharged by merely disclosing his or her self-interest.
B. A director owes a fiduciary duty to the shareholders but not to the corporation.
C. A promoter of a corporation to be formed owes no fiduciary duty to anyone, unless the contract engaging the promoter so provides.
D. A majority shareholder as such may owe a fiduciary duty to fellow shareholders.
Answer: D. A majority shareholder as such may owe a fiduciary duty to fellow shareholders.
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