Board member remote voting permits directors to vote during a meeting, without having to travel or disrupt business operations. It reduces time and costs for all parties involved since it eliminates the need to travel back and forth or pay for flights, train, or bus tickets and hotel rooms or business meals for board members who live away. Additionally, it helps reduce the cost of printing and storing paper documents.
If you decide to permit board members to vote via email during a virtual meeting you must create a clear procedure for voting. Additionally, you need to ensure that all requirements are satisfied to make a vote valid. The procedure for voting (including the definitions of “yes”, ‘no’ and “abstention”) must be clearly stated in the agenda. Then, all board members must take action on the request for votes within a reasonable time frame. Finally, the presiding officer must confirm that the voting procedure is completed and the results are recorded in the meeting minutes.
It is recommended that you change to a web-based board portal to ensure that your board members to vote in a secure and efficient way. These platforms offer the highest level of security, ensuring that all the details are kept confidential and that nobody can alter the results. These tools also boost board participation as directors will be encouraged to voice their opinions and take part in discussions prior to deciding on issues.