Compliance Question of the Week

All motions and seconds made during a board meeting are recorded for the minutes (along with results), but is it necessary to record names of who makes motions and seconds?  I’ve read arguments against recording names.  Is there direction you can provide, or does the board decide?

Chapter 7 of the NCUA Examiner’s Guide, which is usually used by state examiners as well, discusses the requirements for board meetings and the recording of the minutes.

According to the NCUA Examiner’s Guide, “Minutes should identity board members who ask important questions or make motions to indicate they actively participate in the meetings.”

Related Links:

NCUA Examiner’s Guide

 

Questions? Contact the Compliance Hotline: 1.800.546.4465, compliance@nwcua.org.

Posted in Compliance, NCUA.