5/24/2007

Electric City Power Board

Several people have suggested to me that the Board of Directors of Electric City Power is acting as a mere rubber stamp, and that the number of issues upon which they have actually decided and voted is quite small. A gentleman pointed out to me yesterday that not for profit boards have a fiduciary duty to not simply act as a rubber stamp.

In Montana, a Director of a not for profit must act with the "care an ordinarily prudent person in a similar position would exercise under similar circumstances." There's more, of course, but that is the basic duty.

Someone should look into this. Preferably someone with a legal background. Hmmm, can anyone think of anyone...?

1 comment:

Mary Jolley said...

Speaking of torture
That is what it is to sit in on EPC Board Meetings. I have been doing it for over a year. It is hard to bear wartching grown persons play acting as financial experts and energy advisors. None of whom read the following:
DEIS,FEIS R.W. Beck Report, Bylaws, City Code Title 5 Chapter 20 etc..
Guess which member said," I don't know anything about electricity markets."
Or who said?
"Why would we want to pay back the water credit? It is an interest free lone."

Or who said?
"Do you want to pay 15% more on you hospital bill for clean energy?" Might have said, "Clean energy costs more, do you expect me to take a pay cut?"
Others have some more quotes but I'm off to remember freedom isn't free. Some folks made the ultimate sacrifice. I'm just a good old fashioned government watch dog.
God bless America.