An advisory board functions like a board of directors does, except that the members are compensated for their services and the company must have directors and officers liability insurance.

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Quizplus · Accepted Answer

An advisory board is a group of individuals who provide advice and support to a company, but they are not involved in the day-to-day management of the business. They are typically not compensated for their services, and the company is not required to have directors and officers liability insurance for them.

An Advisory Board Functions Like a Board of Directors Does