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7. Decision making
So authorities can audit, and the board has to decide on changes?
A Utah-registered L3C, a not-for-profit organization, steers the KERI Foundation.
Processing everything into articles of association is very static. You have to make dynamic decisions based on constantly changing insights. You want to keep adjusting.
We have two principal guidelines in this perspective:
- Adjust as standardized as possible in the Operational Agreement, which is based on a template Muli-member L3C, Manager-Managed from the state of Utah,
- Put everything else in the Memorandum of Understanding plus the Competence Profile of the key management positions in the foundation. These latter documents are an integral part of – and bi-directionally referred to and from 1, the Operational Agreement.