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    Practice 3D: Board Approval of Transactions

    Posted 2017 Updated April 18, 2019
    Source
    Land Trust Alliance
    About This Practice

    This guidance covers Practice 3D, which includes one element:

    1. ⬤ The board reviews and approves every land and conservation easement transaction

      1. a. ⬤ However, the board may delegate decision-making authority on transactions if:

        1. ⬤ i. It establishes written policies or has bylaws provisions that define the limits to the authority given to the delegated entity

        2. ⬤ ii. The delegated entity provides timely notification in writing to the full board of any completed transactions

    ⬤ Accreditation indicator element | ■ Terrafirma enrollment prerequisite | ▲ Required for both

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    This resource is a Land Trust Alliance member benefit for the staff, board and volunteers of land trust and affiliate member organizations, and Alliance donors at the Protector level.