Assertion: fund's director | /r/HasProperty | given specific authority
Facets:
Source sentences:
text: The amendments also require: (i) an independent director to be chairman of the board; (ii) directors to perform an evaluation of the board and its committees, at least once annually; (iii) independent directors to meet in an executive session at which no director who is an interested person of the fund is present, at least once quarterly; and (iv) independent directors to be given specific authority to hire employees and retain experts.
text: Any fund that relies on an Exemptive Rule is required to satisfy the fund governance standards in rule 0-1(a)(7), including having: (i) a board of directors whose independent directors constitute at least 75 percent of the board;90 (ii) an independent director be chairman of the board; (iii) directors perform an evaluation of the board and its committees, at least once annually; (iv) independent directors meet in an executive session at which no director who is an interested person of the fund is present, at least once quarterly; and (v) independent directors be given specific authority to hire employees and other advisers.