MLchartDataset catalogue

Outside directors

Term · Insurance and risk management · MLC-T-INS-002454

Members of a corporation's board of directors who are not employees, officers, or major shareholders of the company. They provide independent oversight and objective judgment on corporate strategy, performance, and executive compensation. Under the Sarbanes-Oxley Act of 2002, the audit committees of publicly traded companies must be composed entirely of independent outside directors.

Table 1. Record
IdentifierMLC-T-INS-002454
FieldInsurance and risk management
SubjectManagement Liability
Record as JSON 
{
  "id": "MLC-T-INS-002454",
  "term": "Outside directors",
  "field": "Insurance and risk management",
  "definition": "Members of a corporation's board of directors who are not employees, officers, or major shareholders of the company. They provide independent oversight and objective judgment on corporate strategy, performance, and executive compensation. Under the Sarbanes-Oxley Act of 2002, the audit committees of publicly traded companies must be composed entirely of independent outside directors.",
  "subject": "Management Liability",
  "url": "https://mlchart.com/terminology/insurance/outside-directors/"
}

Record 2,453 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.