PART IX. 
DIRECTORS AND OFFICERS



 



A.  Board of
Directors



 



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



(b)  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 or in an agreement
authorized under section 414-163. [L 2000, c 244, pt of §1]