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A Real estate investment trust (REIT) can be an organization or an establishment able to supply other investors to finance their real estate business in a tax-efficient manner. In order to become a REIT, the organization needs to be registered as a corporation, trust, or association; it needs to be run by one or numerous trustees or directors. [2]
REITs were created in the United States after President Dwight D. Eisenhower signed Public Law 86-779, sometimes called the Cigar Excise Tax Extension of 1960. [12] [13] The law was enacted to allow all investors to invest in large-scale, diversified portfolios of income-producing real estate in the same way they typically invest in other asset classes – through the purchase and sale of ...
Minutes, also known as minutes of meeting (abbreviation MoM), protocols or, informally, notes, are the instant written record of a meeting or hearing. They typically describe the events of the meeting and may include a list of attendees, a statement of the activities considered by the participants, and related responses or decisions for the ...
The secretary prepares the minutes and may be asked to read important papers. [3] The treasurer may present a financial report. [4] Other officers, the board of directors, and committees may give their reports. [2] [5] [6] Attending this meeting are the members or the shareholders of the organization, depending on the type of organization.
An executive session is a term for any block within an otherwise open meeting (often of a board of directors or other deliberative assembly) in which minutes are taken separately or not at all, outsiders are not present, and the contents of the discussion are treated as confidential (see in camera).
The council of delegates representing the governance board is the equivalent of the management board i.e. board of directors of a single-tier board, while the chairman of the management board is reckoned as the company's chief executive officer and managing director. These 03 [clarification needed] positions are held by the same individual.
A housing cooperative's board of directors is elected by the membership, providing a voice and representation in the governance of the property. Rules are determined by the board, providing a flexible means of addressing the issues that arise in a community to assure the members' peaceful possession of their homes. [7]
A board of directors usually headed by the authorised corporate director (ACD) – An ACD is a FCA authorised firm that assumes full control of the board. The board's responsibilities include: dealing with the day-to-day operation of the company, managing the company's investments, buying and selling the OEIC's shares on demand, and ensuring accurate pricing of shares at net asset value.