Practice 3D: Board Approval of Transactions

Practice 3D 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