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A board of directors is an executive committee that supervises the activities of a business, a nonprofit organization, or a government agency . The powers, duties, and responsibilities of a board of directors are determined by government regulations (including the jurisdiction's corporate law) and the organization's own constitution and by-laws ...
Directors' duties. Directors' duties are a series of statutory, common law and equitable obligations owed primarily by members of the board of directors to the corporation that employs them. It is a central part of corporate law and corporate governance. Directors' duties are analogous to duties owed by trustees to beneficiaries, and by agents ...
Directors and officers of non-profits owe a fiduciary duty to the non-profit and its beneficiaries similar to the duties owed by directors and officers of for-profit corporations. [6] Non-profits can have vicarious liability for injuries caused by their employees or volunteers to third parties, such as by traffic accidents.
An ex officio member is a member of a body (notably a board, committee, or council) who is part of it by virtue of holding another office. The term ex officio is Latin, meaning literally 'from the office', and the sense intended is 'by right of office'; its use dates back to the Roman Republic . According to Robert's Rules of Order, the term ...
The Association of Governing Boards of Universities and Colleges (AGB) is a nonprofit 501 (c) (3) U.S. higher education association established in 1921. [3] AGB serves approximately 2,000 colleges, universities, and institutionally related foundations. The association provides research, publications, programming, and consulting services to ...
Corporate title. Corporate titles or business titles are given to corporate officers to show what duties and responsibilities they have in the organization. Such titles are used by publicly and privately held for-profit corporations, cooperatives, non-profit organizations, educational institutions, partnerships, and sole proprietorships that ...
BoardSource, formerly the National Center for Nonprofit Boards, is an American nonprofit organization founded in 1988. Its mission is "to inspire and support excellence in nonprofit governance and board and staff leadership".
Website. www .nacdonline .org. The National Association of Corporate Directors ( NACD) is an independent, not-for-profit, section 501 (c) (3) founded in 1977 and headquartered in Arlington, Virginia. NACD's membership includes more than 1,750 corporate boards as well as several thousand individual members, for a total of more than 24,000 ...