[Foundation-l] governance

Thomas Dalton thomas.dalton at gmail.com
Wed Apr 11 19:05:13 UTC 2007

> Here in Utah, under our laws, holding board meetings in
> public and failing to observe
> certain requirements of due diligence with corporate matters are
> criminal and cross the line.

That sounds like a very strange law. Corporate transparency is illegal
in Utah? Certainly board members need to be careful what they do with
confidential information, but that isn't relevant to a discussion of

> By way of example, a Utah non-profit may NOT solicit public funds EVER
> through stock offering or the offer
> of board seats. It's considered as an attempt to "go public" by way of
> example and can result in the officers being
> indicted and jailed under Utah State Laws. I do not know how Florida
> Laws work, but IRS requirements and other
> issues can lead to trouble.

The law is irrelevant, selling board seats would be going against
everything Wikipedia stands for. That's a very bad example since it
would never happen.

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