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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 ...
A joint powers authority (JPA) is an entity permitted under the laws of some U.S. states, whereby two or more public authorities (e.g. local governments, or utility or transport districts), not necessarily located in the same state, may jointly exercise any power common to all of them. Joint powers authorities may be used where:
The first director's duty under section 171 is to follow the company's constitution, but also only exercise powers for the "proper purpose" relating to the power. [4] Prior proper purpose cases often involved directors plundering the company's assets for personal enrichment, [ 5 ] or attempting to install mechanisms to frustrate attempted ...
Internal corporate governance controls monitor activities and then take corrective actions to accomplish organisational goals. Examples include: Monitoring by the board of directors: The board of directors, with its legal authority to hire, fire and compensate top management, safeguards invested capital. Regular board meetings allow potential ...
A governing body is a group of people that has the authority to exercise governance over an organization or political entity.The most formal is a government, a body whose sole responsibility and authority is to make binding decisions in a taken geopolitical system (such as a state) by establishing laws.
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 to principals.
Board decisions should predominantly be policy decisions. Board should formulate policy by determining the broadest values before progressing to more narrow ones. A board should define and delegate, rather than react and ratify. Ends determination is the pivotal duty of governance. The board's best control over staff means is to limit, not ...
A board, which is an administrative, managerial, or quasi-judicial body. A board derives its power from an outside authority that defines the scope of its operations. Examples include an organized society's or company's board of directors and government agency boards like a board of education. [9]