Guam Board of Directors Confidentiality Policy
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How to fill out Board Of Directors Confidentiality Policy?
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FAQ
A board member who reveals confidential information without the approval of the board is, in essence, acting beyond the extent of their authority. Therefore, they can be found personally liable for their actions.
For board members serving a for-profit business, virtually everything discussed within a board meeting is totally confidential. Breaching that trust can even have legal consequences to a board member with the proverbial ?loose lips?. In a nonprofit, it's a bit different.
Board meeting minutes do not need to be made publicly available ? and in many cases they should not be, because they detail confidential or sensitive issues. However, past board meeting minutes should always be readily accessible to board members and shareholders as they will provide a formal record of the proceedings.
It is the policy of [Name of Nonprofit] that board and committee members (trustees and committee members) of [Name of Nonprofit] will not disclose confidential information belonging to, or obtained through their affiliation with, [Name of Nonprofit] to any person, including their relatives, friends, and business and ...
Situations Relative to Board Confidentiality Nonprofit board meetings are usually open to the public. However, board members may want to discuss certain issues privately. The board may go into executive session and ask board guests to leave during this part of the discussion.