Independent Board Member definition

Independent Board Member means a trustee of the Fund who is neither an “interested person” of the Fund as defined in Section 2(a)(19) of the Investment Company Act of 1940, as amended, nor a party to the Proceeding with respect to which indemnification or advances are sought.
Independent Board Member means (i) a Trustee of an Adopting Fund if the Adopting Fund is organized as a Massachusetts business trust, (ii) a Director of an Adopting Fund if the Adopting Fund is organized as a corporation, and (iii) a "director" (as such term is defined in Section 2(a)(12) of the Investment Company Act of 1940, as amended [the "Act"]) of an Adopting Fund if the Adopting Fund is any other type of organization, who in any such case is not an interested person (as such term is defined in Section 2(a)(19) of the Act) of MSDW Advisors.
Independent Board Member means each Board member who is not an “interested person” of the Funds (as defined in Section 2(a)(19) of the 1940 Act) and who would be required to make a report under Section V of this Code solely by reason of being a Board member of the Funds.

Examples of Independent Board Member in a sentence

  • Except for [DIRECTOR] acting as an Independent Board Member, no employees, agents, or independent contractors thereof, shall be considered to be a director, officer, member, partner, control person, employee, representative, agent, or insider of Client, unless expressly agreed to in a writing signed by Client and [ENTITY].


More Definitions of Independent Board Member

Independent Board Member means a Board Member who is not an "interested person", as defined by Section 2(a)(19) of the 1940 Act, of a Fund.
Independent Board Member. Means a Board Member appointed pursuant to Article
Independent Board Member means any member of the Board of Directors satisfying the conditions for independent member provided by Law.
Independent Board Member means a trustee of a Fund who is not a “interested person” of the Fund, as defined in Section 2(a)(19)(B) of the 1940 Act.
Independent Board Member means a member of the Board who is considered by the Company to be independent in accordance with the requirements of the Exchange (including, in the context of members of the finance and audit committee, under Rule 10A-3 under the Exchange Act, as applicable) and the standards of independence promulgated by the Board from time to time;
Independent Board Member means a director or trustee of a Fund who is not a “interested person” of the Fund, as defined in Section 2(a)(19)(B) of the 1940Act.
Independent Board Member means that, when judged from the perspective of a reasonable and informed third party, the Member has no interest, position, association or relationship which is likely unduly to influence or cause bias in decision-making in the best interests of the Institute, provided that membership of the Institute will not automatically result in a presumption of a lack of independence;