Re: LLC Board Meeting Details - 1 May 2019

[Sean Turner <[e-mail]>]

> On Apr 24, 2019, at 20:08, Stephen Farrell <[e-mail]> wrote:
> 
> 
> Hiya,
> 
> As a nit, "AOB" should probably have a public slot too. I bet
> not all AOB items need be confidential.
> 
> And since I looked at the agenda, I also looked back to the last
> minutes where I found:
> 
> "All incoming board members have signed Conflict of Interest
> disclosures. These will not be posted publicly, but have been
> filed internally."
> 
> Can you explain how this is consistent with the "public unless
> otherwise justified in advance" approach that I think was the
> intent for the LLC board's activities?
> 
> It also seems to be somewhat illogical - if the CoI disclosure
> is to protect the community against LLC board member conflicts,
> I don't see how that works if the community are unaware of the
> potential conflicts. Where are I wrong there?
> 
> Thanks,
> S.

The CoI disclosures are private because people may have other commitments that cannot be made public due to their contractual or employment obligations.

One thing that is different with the LLC than with the IAOC is that in addition to the community there is also the IRS.  Board members have fiduciary responsibility that the IRS takes very seriously, see the 990s that require disclosures on corporate governance and board of directors.  These fiduciary responsibilities include duty of care, loyalty, and obedience.

spt