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Director liability

From Wikimedia Belgium
Language: English

The board is responsible for the good functioning of the organisation, collectively and individually.[1]

Every year, the general assembly approves a discharge, to recognise good management over the previous accounting year.

The board is functioning as a college. When the board is not functioning properly, individual board members can be considered legally responsible. Therefore proper management is mandatory. When any board member identifies a failure or a weakness, one is required to notify fact in the minutes of board meeting, or as an e-mail to the board.[2] Doing so, individual board members can cover or limit their legal responsibility.

See also

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References

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  1. VSDC Review 189, Jan-Feb 2020, p. 12 - Bestuurderaansprakelijkheid: de 'nieuwe' regels toegelicht
  2. VSDC Review 207, Sep 2023, p. 7 - Het bestuursorgaan als college