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I am a board member, and our board president has stated that we have an informal confidentiality policy that must be followed. what is the official confidentiality policy for board members by law? He argues that ANYTHING said at a board meeting should not be shared with shareholders. I think this is a violation of our rights and of shareholder rights. Certain things like shareholder information, liability concerns, etc. are not for public consumption. But other issues that are already public can be shared and in fact I believe should be shared. Our by-laws say nothing about confidentiality - what is our legal responsibility to confidentiality, and what can and should be shared with shareholders?
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Confidentiality has several ramifications as to shareholder information, contract information, board member information (e.g.: voting, opposed or for), salaries, etc.
Here are some references.
Just for starters
http://cooperator.com/articles/1491/1/Board-Resource-Guide-Etiquette-for-Board-Members/Page1.html
http://cooperator.com/articles/1069/1/The-Need-to-Know/Page1.html
http://cooperator.com/articles/1096/1/Disseminating-Information/Page1.html
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Board Talk members who registered prior to March 9th, 2016 will need to reset their password.