TN 9 (05-90)

RS 02505.105 Directors and Fiduciaries

A. INTRODUCTION

The activities performed by directors generally, do not go beyond attendance at directors' meetings held periodically and generally not more frequently than once a month. Some may last a few minutes, some a few hours.

B. PROCEDURE

Ordinarily, the services of a director are not substantial. However, when a director's, fiduciary's, and trustees' services are 15 hours per month or more, be alert for a situation that may result in unrealistic conclusion that the services are not substantial.

C. REFERENCES

For coverage status of directors and fiduciaries, see RS 01802.032-RS 01802.033.


To Link to this section - Use this URL:
http://policy.ssa.gov/poms.nsf/lnx/0302505105
RS 02505.105 - Directors and Fiduciaries - 09/13/2004
Batch run: 01/27/2009
Rev:09/13/2004