Sec. 7. The board shall have power to do all things necessary or convenient in conducting the business of the corporation, including but not limited to:
(a) The power to make, alter, amend or repeal by-laws for the regulation and management of the affairs of the corporation not inconsistent with law or with the articles of incorporation.
(b) To appoint agents and employees and to fix their compensation and the compensation of the officers of the corporation.
(c) To execute instruments.
(d) To delegate to one (1) or more of the directors or to the agents and employees of a corporation such powers and duties as it may deem proper.
(e) To make its own rules and regulations as to its procedure.
Formerly: Acts 1935, c.175, s.7; Acts 1937, c.258, s.4.