If the articles of incorporation or the bylaws so provide, the board of directors, by resolution adopted by a majority of the number of directors fixed by the bylaws, or, in the absence of a bylaw fixing the number of directors, the number stated in the articles of incorporation, may designate two or more directors to constitute an executive committee, which, to the extent provided in the resolution or in the articles of incorporation or the bylaws of the corporation, may exercise the authority of the board of directors in the management of the corporation. The designation of the executive committee and the delegation of authority to it do not relieve the board of directors or any member of the board from responsibility imposed by law.
Section: Previous 10.20.076 10.20.081 10.20.086 10.20.091 10.20.096 10.20.101 10.20.106 10.20.111 10.20.116 10.20.121 10.20.126 10.20.131 10.20.136 10.20.141 NextLast modified: November 15, 2016