Duties:
- Duty of Care: Act in good faith and with ordinary care and in reliance on adequate information.
- Duty of Loyalty: Act in the best interest of the purpose of the organization, not in the interest of oneself.
- Duty of Obedience: Act in accordance with law and the organization's governing documents.
Responsibilities:
- Policy Making: Establish policies that guide the cooperative's operations and long-term direction.
- Financial Oversight: Monitor the cooperative's financial health and review budgets and major expenditures.
- CEO Designation: Appoint the Chief Executive Officer and provide oversight of the position.
- Strategic Planning: Help set long-term goals and priorities for the cooperative.
- Professional Services Oversight: Select and engage the cooperative's auditing firm and board legal counsel.
- Member Representation: Represent the interests of the members in board discussions and decision-making.