(1) A corporation shall have the officers designated in its bylaws or by the board of directors. An officer shall be an individual who is eighteen years of age or older.
Officers may be appointed by the board of directors or in such other manner as theboard of directors or bylaws may provide. A duly appointed officer may appoint one or more officers or assistant officers if authorized by the bylaws or the board of directors.
The bylaws or the board of directors shall delegate to one or more of the officersresponsibility for the preparation and maintenance of minutes of the directors' and shareholders' meetings and other records and information required to be kept by the corporation under section 7-116-101 and for authenticating records of the corporation.
The same individual may simultaneously hold more than one office in the corporation.
Source: L. 93: Entire article added, p. 785, § 1, effective July 1, 1994. L. 2004: (1) amended, p. 1499, § 259, effective July 1.