COVID-19 Update on Corporate/Board Governance Issues

COVID-19 Update on Corporate/Board Governance Issues

By April 6, 2020 News No Comments

Dear Friends and Colleagues:

Today we bring you our updated FAQ on corporate issues related to the current COVID-19 school closure.

This update of our FAQ on corporate issues covers the Governor’s renewal of his Disaster Proclamation, which, through Executive Order 2020-18, extends prior Executive Orders through April 30, 2020. This update also encompasses additional directives and guidance: Executive Order 2020-15, which suspends the provision prohibiting electronic processing of school construction bids; and several ISBE guidance documents and emergency rules on a number of topics impacting schools, including the transition from Act of God Days to Remote Learning Days, transportation reimbursement, distribution of CARES Act funds, flexibility in grant fund usage, and dual credit programs. In addition, we note the IRS has extended the deadline for 403(b) plan compliance as part of its pandemic response.

HLERK provided initial guidance on corporate matters in emails sent on March 16, 19, and 23.  We now consolidate and update our previous guidance, noting the specific FAQs where we either updated our initial guidance or added a new FAQ in response to the latest guidance and legal developments.

Sincerely,

HODGES, LOIZZI, EISENHAMMER,
RODICK & KOHN LLP

Sign up for our monthly newsletter for the latest school law news. Subscribe