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Unitary board for cooperatives and mutual insurance companies

This information is provided by

Netherlands Enterprise Agency, RVO

Effective date: 1 July 2021

What changes?

If you run an association, cooperative, foundation or a mutual insurance company, in future you can choose to have a unitary board. This was already an option for private limited companies (bvs) and public limited companies (nvs).

One-tier board

A unitary board is a single board of directors, comprised of executive and non-executive directors. This is also called a one-tier board. There is no separate supervisory board. The supervisory directors are part of the board. A company has 1 board of which both management and supervisory directors are part.

There is a difference between executive and non-executive directors. Only a non-executive director can act as chairman.

For whom?

  • associations
  • cooperatives
  • foundations
  • mutual insurance companies

When?

The Governance and supervision act (Wet bestuur en toezicht rechtspersonen, Wbtr) will come into effect on 1 July 2021.

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Questions relating to this article?

Please contact the Netherlands Enterprise Agency, RVO

This information is provided by

Netherlands Enterprise Agency, RVO