A Board of Directors is a body of elected or appointed members who jointly oversee the activities of an Association. The activities of the Board of Directors are determined by the powers, duties, and responsibilities delegated to it or conferred on it by an authority outside itself. These matters are typically detailed in the Association's bylaws. The bylaws commonly also specify the number of members of the board, how they are to be chosen, and when they are to meet. The legal responsibilities of boards and board members vary with the nature of the Association, and with the jurisdiction within which it operates.
Typical duties of boards include:
- governing the Association by establishing broad policies and objectives
- ensuring the availability of adequate financial resources
- approving annual budgets
- accounting to the stakeholders for the Association's performance