§ 23B.08.010. Requirement for and duties of board of directors
(1) Except as provided in subsection (3) of this section, each corporation must have a board of directors.
(2) All corporate powers shall be exercised by or under the authority of, and the business and affairs of the corporation managed under the direction of, its board of directors, subject to any limitation set forth in the articles of incorporation.
(3) A corporation may dispense with or limit the authority of its board of directors by describing in its articles of incorporation who will perform some or all of the duties of the board of directors.
[1989 c 165 § 80.]
Sections: 23B.08.010 23B.08.020 23B.08.030 23B.08.040 23B.08.050 23B.08.060 23B.08.070 23B.08.080 23B.08.090 23B.08.100 23B.08.110 23B.08.200 23B.08.210 23B.08.220 23B.08.230 NextLast modified: April 7, 2009