Frequently Asked Questions
What is a management committee?Each member will provide one or more representatives. These representatives will make up the management committee. Each representative will have the authority to bind their respective member in decisions relating to the venture. The management committee may appoint one or more business managers.What is a board of directors?The board of directors will decide major issues concerning the venture. Individual directors are appointed by agreement between all members. The board of directors and each individual director will have a primary duty to the best interest of the venture and not directly to any individual member. The board of directors may appoint one or more managers.