Governance and Organizational Structure | Board Member Roles & Responsibilities

Archives

• Current Entries
• March 2010
• January 2010
• December 2009
• November 2009
• October 2009
• September 2009
• August 2009
• May 2009
• April 2009
• January 2009
• December 2008
• November 2008
• August 2008
• June 2008
• May 2008
• April 2008

Latest Entries

Report This Blog

Search:

Governance and Organizational Structure

This area deals with the development and analysis of the organizational structure and with delineating responsibility, authority, and accountability at all levels of the organization. Functions include the development and implementation of policies and procedures for the governance process.

<< Prev | Main | Next >>

Board Member Roles & Responsibilities - Query Re: Bargain Sale?

Posted by: Sean Hardiman on September 9, 2009 at 9:38PM EST

Hi everyone,

So I'm getting caught up on the self-study materials and came across a question from the Board & Governance presentation. The presenter stated that Board Members shouldn't be in a position to benefit from a bargain sale (sounds reasonable enough), but what I haven't been able to determine is what constitutes a bargain sale and under what circumstances would a HCO undertake one? I can speculate on options, but I'm hoping someone else would be able to clarify. Thanks in advance!

Send This | Categories:

(4) Comments

Posted by: Dave Engel on September 11, 2009 5:27PM EST

We are a community owned HCO. To handle "surplus" material, all material is provided back to the community leaders for review. ONce reviewed these items are placed on the auction block at a public sale. This help suppress any bias or conflict of interest that could evolve.
or
Items are given away to charity organizations that ship the material overseas.

Hope this helps.

Posted by: Sandra Evans on September 19, 2009 5:16PM EST

A bargain sale is a simple agreement in which you sell securities, real estate, tangible personal property, or other assets to a company for less than their current value.

Posted by: Sean Hardiman on September 21, 2009 11:21PM EST

Thanks for your responses - question answered!