Should Everything Be For the Record?

Philadelphia partner Doug Raymond authored an article for the Directors & Boards Second Quarter Issue titled “Should Everything Be For the Record?” The article discusses how board meeting minutes, or the absence of minutes, can create problems for directors.

Doug explains that keeping proper board meeting minutes can pay significant dividends, but that this can be done without overburdening the corporate secretary. Boards can take a variety of approaches to how they prepare meeting minutes, ranging from reciting only the bare bones of board actions and decisions to a veritable transcript of the meeting. Doug states that the approach should vary depending on the matter being considered, adding that “[A] thoughtful, common-sense approach is always better than following a script or someone else’s template.”