Small boards frequently operate informally. A modest set of practices makes their decisions defensible without adding meaningful burden.
Composition. Enough members for a committee structure where the organisation warrants it, with at least some independence from management where there are outside owners or fiduciary obligations.
Meeting cadence. Regular meetings with notice, an agenda circulated in advance, and materials distributed early enough to be read. A board asked to approve something first seen in the room has not deliberated.
Minutes. Concise, recording attendance, the matters considered, the materials relied on, the fact of discussion, recusals, and the resolutions adopted. Not a transcript, and not so sparse that they show only outcomes.
Committees for audit, compensation and, where relevant, conflicts, with written charters. Even a two-person committee with a charter is materially better than none.
Delegation. A written statement of what management may do without board approval, by threshold and category.
Information. Financial statements at each meeting, with variance analysis; litigation and compliance reporting; and an annual review of insurance, including directors and officers coverage.
Education. Directors should understand their duties of care and loyalty, the business judgment rule, and the conflict policy. A short annual refresher is sufficient and is evidence of a functioning board.