This duty requires that directors not disclose to others information that the board has deemed confidential
What is duty to preserve confidentiality?
100
This type of insurance protects board members from personal liability
What is Directors & Officers (D&O) insurance?
100
The legal recording of a board meeting
What are the minutes?
100
The IRS Form 990 now asks if you have which 3 policies
What is a conflict of interest, whistleblower and document retention policy?
200
The governing document that is rarely amended
What is the articles of incorporation?
200
This duty requires board members to be diligent and prudent in managing the organization’s affairs
What is duty of care?
200
This type of insurance protects the organization from liability
What is general liability insurance?
200
This can be used to handle routine, operational issues at a board meeting
What is a consent agenda?
200
This policy would spell out how board members expenses will be covered
What is a travel reimbursement policy?
300
These governing documents are easily changed by the board
What is the policies and procedures?
300
This duty requires board members to act in good faith and not allow personal interests to prevail over the interests of the organization
What is duty of loyalty?
300
This law, enacted in 1997, indemnifies volunteers if they act on behalf of the organization with good judgment
What is the Volunteer Protection Act of 1997?
300
For in-person board meetings, board materials should be sent out at least this far in advance
What is one week?
300
How often the board should sign the conflict of interest disclosure statement
What is annually?
400
Changes to this governing document is not difficult but likely requires membership approval
What is they bylaws?
400
What are three key components that the board must determine when setting organizational direction?
What is mission, vision and core values?
400
Violating bylaws, lack of fair dealings, antitrust violations, defamation, wrongful discharge, among others
What are reasons why board members get sued?
400
This happens after a motion is made and seconded
What is discussion?
400
This policy details how operating, short-term and long-term funds are to be used and managed
What is an investment policy?
500
This governing document takes precedence over all others
What is the articles of incorporation?
500
Reviewing financial reports, monitoring programs and evaluating the staff fall under what key role of the board?
What is providing oversight?
500
Board members are only protected from personal liability if they meet these three requirements (name at least 2 of the 3)
What are 1. not compensated, 2. acting within scope of board responsibility and 3. not engaging in criminal or reckless misconduct?
500
If electronic board voting is allowed in the state in which the association is incorporated, the vote usually needs to meet these 2 criteria
What is everyone must vote and it must be unanimous?
500
In recent years, PayPal has begun requiring this policy, which outlines how information on members will be collected and used, to be posted on the association website before
granting a merchant account