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15E.85 Board of directors.

The powers of the corporation are vested in and shall be exercised by the board of directors. Four members of the board constitute a quorum and an affirmative vote of at least four of the members present at a meeting is necessary before an action may be taken by the board. An action taken by the board shall be authorized by resolution at a regular or special meeting and takes effect immediately unless the resolution specifies otherwise. Notice of a meeting shall be given orally or in writing not less than forty-eight hours prior to the meeting.

Section History: Recent form

83 Acts, ch 207, § 23, 93 ~ICS83, § 28.85 ~I84 Acts, ch 1079, § 1 ~IC93, § 15E.85

Internal References

Referred to in § 15.108

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Last update: Mon Jan 27 16:05:08 CST 1997
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