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Village board of trustees is comparable to but distinguished from city council or town council. Small villages have a trustee instead of a mayor, who is elected to manage village business in a similar function. In some states, a civil township may be administered by a trustee or a group of trustees; see Indiana Township Trustee for an example.
A township trustee or a town trustee is an official with authority who is elected over civil township government. The role of a trustee, or board of trustees, may involve helping the poor with basic necessities, provided that they have exhausted all other options of support. [ 1 ]
Duties of the board include adopting the annual budget, serving as a board of finance and approving township contracts. In January of each year, the trustee presents to the board an annual report showing the receipts, expenditures, investments and debts of the township. The approved report is then published in local papers for public inspection.
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 ...
The corporation's name might consist of its governing board members' title (for example, The Trustees of Princeton University is a New Jersey nonprofit corporation). These board members (trustees, regents, etc.) are fiduciaries for the corporation. In some cases, the institution might not have separate legal personhood; the trustees transact in ...
AGB was founded in 1921. [4] It grew out of a conference held at the University of Michigan in 1920. [5] Until the early 1960s the Association of Governing Boards of Universities and Colleges was an affiliation of board members who took turns sharing the leadership and guidance needed to sustain an organization. [6]
As of 2022, the chair of the board of trustees is Matthew W. Schuyler, a graduate of Penn State and chief brand officer at Hilton. [3] The main responsibilities of the board are to select the president of Penn State, to determine the goals and strategic direction of the University, and to approve the annual budget. [4]
The U.S. Trustee's office conducts the first meeting of creditors in a Chapter 11 case. Most Chapter 11's do not require the appointment of a trustee: however, in those cases which do, the U.S. Trustee oversees the appointed trustee's handling of the case and, for good cause, can seek the removal or replacement of the trustee.