§414-191 - Requirement for and duties of board of directors.

PART IX. DIRECTORS AND OFFICERS

A.  Board ofDirectors

[§414-191]  Requirement for and duties ofboard of directors.  (a)  Except as provided in section 414-163, eachcorporation must have a board of directors.

(b)  All corporate powers shall be exercised byor under the authority of, and the business and affairs of the corporationmanaged under the direction of, its board of directors, subject to anylimitation set forth in the articles of incorporation or in an agreementauthorized under section 414-163. [L 2000, c 244, pt of §1]