Board Governance – Legal Principles and Practices to Keep the Water Flowing
(Room 124 A&B)
16 Sep 26
9:45 AM
-
10:45 AM
Directors must understand the Fiduciary status required of a Board member pursuant to applicable law and the By-laws. They must ensure the Company has retained professional consultants who advise the Board, management, and employees how to comply with the standard of care, skill and knowledge necessary to protect the Board and Company. The Board must hire, supervise and empower a management team that operates lawfully and effectively. The law provides that a director, officer or employee may be indemnified for claims, judgment or the expense of legal fees and expenses while acting within the scope of their authority and employment. The Board has a duty to provide support for management and employees in their work to maintain and sustain the ongoing operation of the Company. The ten attributes of an effectively managed water utility will be addressed, as well as a distressed utility and privatization, regionalization and consolidation and the impacts on your utility.