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by CPLX
951 days ago
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Yeah but the board just took this action on purpose and decisively. Who outranks them? I don’t get the premise. You’ve implied twice that they could lose their seats over it. How? By what mechanism? Challenged in court or presented with a resignation letter by whom? Seems to me they’re the top of the org chart. They’re only accountable in the sense that employees can quit or they can run out of money. But they happen to have direct control of one of the most valuable pieces of technology ever created so what exactly are you suggesting will happen. |
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Depending on the bylaws it could be stakeholder: donors, beneficiaries or the employees of the non-profit in some organized form. All of these could petition the court if they feel that the non-profit wasn't governed properly. Note that it isn't known if the board acted unanimously (likely it it didn't) and what the grounds were. That will make a big difference to any outcome.
Non profits that lose their donors (especially if the money was pledged but not yet committed) usually don't live long so the board has some incentive to play ball.