Co-op directors must adhere to high standards of conduct

摘要

Transparency in corporate business activity is no longer an option. The line in the sand drawn by Main Street dictates that Wall Street provide complete accountability for financial actions. Cooperatives are not immune from this level of scrutiny. Indeed, cooperatives have to be especially diligent about the public perception of their business practices because they represent the interests of member-owners, rather than investors. Co-op members expect, and demand, the highest level of ethical conductby their directors. This article summarizes the standards of conduct required of co-op directors and some of the unique challenges they face.