North Dakota Board of Directors Confidentiality Policy
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How to fill out Board Of Directors Confidentiality Policy?
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FAQ
It is the policy of [Name of Nonprofit] that board members and employees 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 professional associates, unless [ ...
Some examples could include locking away or securing confidential information at all times, putting non-disclosure agreements in place, and not keeping confidential documents when no longer needed.
Whatever I see or hear of a confidential nature or that is confided to me in my official capacity will be kept ever secret unless revelation is necessary in the performance of my duty.
Board members have a fiduciary duty to keep confidential information confidential. Who Can Waive Confidentiality? The authority to release information is held by the board as a whole, not by individual directors. Once the information is released, it cannot be taken back.
The policy should include a statement of the directors' duty of confidentiality and explain that they are not to disclose or discuss confidential information about the organization's matters with another person or entity, or use it for their own purposes, unless the board authorizes them to do so.
Issue a Letter Addressing the Breach The letter should remind the member of their fiduciary duty and explain in clear terms that they are not allowed to reveal confidential matters. This is otherwise known as a censure. If that does not get their attention, you can follow up with a cease-and-desist letter.
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.
As a board member, you have an obligation to hold in confidence those things that are mutually determined by your fellow board members to be confidential.
As part of the duty of loyalty, a director cannot take advantage of corporate information for his or her own personal interests. A director generally must protect the privacy and secrecy of the corporation's legitimate internal activities.