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Independent Entities Code | |
Independent Corporations Act | |
Section 105 | Boards. |
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63E-2-105. Boards. (1) As used in this section, "director" includes a trustee or other board member. (2) Each independent corporation shall be governed by a board of directors. (3) The authorizing statute of each independent corporation shall specify: (a) the process for appointing, removing, and replacing directors; (b) the number and terms of office for directors; (c) the board chair selection procedure; (d) board quorum requirements; (e) director qualifications; and (f) the duties and fiduciary responsibilities of directors.
Enacted by Chapter 201, 2001 General Session |
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