If the Independent Directors Council has its way, the transformation of mutual fund boards will go well beyond the Securities and Exchange Commission's independent chairman rule, which takes effect Jan. 16, 2006.

In a 25-page report recommending how fund boards might conduct self-evaluations that the council released Tuesday, it encourages board members to prohibit considering a director independent if that person has ever worked as an executive or officer at the investment firm the board oversees.

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