Qualifications of directors and officers--Restrictions on powers of lay directors and officers.

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47-13B-7. Qualifications of directors and officers--Restrictions on powers of lay directors and officers.

The principal executive officer shall be a shareholder and a director and, to the extent possible, all other directors and principal officers shall be shareholders, and lay directors and officers shall not exercise any authority whatsoever over professional matters.

Source: SL 1971, ch 260, §1 (6).


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