This is my own opinion and does not reflect KCBS or the board of directors!
Ray, it's a business records keeping matter! Why have sensitive materials around? There's no corporate reason to keep them according to lawyers. You, as a former board member, should know what executive or closed sessions are made of! Whenever contractual matters or matters relating to individuals where names are named, it is discussed in closed session. That's the law, not a KCBS thing. Anything actionable after the closed session is done in open session and is a matter in the minutes (the official record) and on the MP3 recording.
Again, these are only my words and my opinions. Since I brought the issue to the board meeting tonight, I do know my reasons for doing so.