Board/Bylaws: Difference between revisions
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===Removal of Directors=== | ===Removal of Directors=== | ||
A Director may be removed from the Board, at a meeting called specifically for the removal of a Director by two-thirds of the Board with or without cause. | A Director may be removed from the Board, at a meeting called specifically for the removal of a Director by two-thirds of the Board with or without cause. | ||
==Remuneration== | ===Remuneration=== | ||
The Board may adopt a resolution that results in Directors being paid reasonable remuneration for their service as Directors or provide for reimbursement of actual costs incurred in connection to Foundation activities. However, no Director shall receive excessive compensation while serving as Director. The Board shall exercise diligence in ensuring that no Director receives excessive compensation, including, but not limited to, by adopting a conflict of interest policy consistent with state and federal law. | The Board may adopt a resolution that results in Directors being paid reasonable remuneration for their service as Directors or provide for reimbursement of actual costs incurred in connection to Foundation activities. However, no Director shall receive excessive compensation while serving as Director. The Board shall exercise diligence in ensuring that no Director receives excessive compensation, including, but not limited to, by adopting a conflict of interest policy consistent with state and federal law. | ||
==Loans== | ===Loans=== | ||
Loans shall not be made by the Foundation to any Director. | Loans shall not be made by the Foundation to any Director. | ||