WHAT ARE “RISK MANAGEMENT REQUIREMENTS?
To be covered by the Maryland Nonprofits D & O program, it is required there be a minimum number of board meetings with written minutes, and written personnel policies. Written personnel policies and written board minutes reduce the risk of having a successful lawsuit being brought against an organization. The staff of Maryland Nonprofits may review the minutes and personnel policies and if thought necessary, make written recommendations about changes that would reduce the risk of legal action. It is also recommended that a staff member or a board member attend at least one training a year that is focused on risk management.
