Board Meeting Facts can be crucial to a company’s future. A board that’s naive and simply rubber stamps what management proposes on the agenda may not be doing its job, and could put the company at risk.
Board meetings can be lengthy and boring. It is easy to lose track of the amount of time you spend listening or discussing irrelevant issues. The effectiveness of a meeting is go to this site determined by a variety of factors, including the way the agenda is organized and the amount of time devoted to substantive issues and topics, and the rules that govern the meeting.
The rules for meetings may differ between boards and the one following, but they should be formulated in an orderly and consistent manner that ensures consistency and transparency. Some of these rules are dictated by the law (e.g. requirements for quorum) while others could be determined in the bylaws of the board or by common law.
Attendance records must be clearly documented in the meeting minutes, with the percent of attendees that constitute a quorum noted. It is also essential to record the attendees, including when there were any board members absent, or any person who was not present remotely. (See our article on Board member Attendance). It is important to record a brief description of every meeting, and the time spent on each subject. This can help manage the time for future meetings and avoid unnecessary repetition of the same information.