Governing body

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§30704. Governing body

(a) Board of Directors.-The board of directors is the governing body of the corporation. The board shall consist of at least 15 directors elected annually by the members.

(b) Officers.-The officers of the corporation are a chairman of the board, a president, one or more vice presidents, a secretary, a treasurer, and any assistant officers designated by the board. The officers have the powers and shall carry out the duties provided in the bylaws or prescribed by the board.

( Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1323 .)

Historical and Revision Notes
Revised

Section

Source (U.S. Code)Source (Statutes at Large)
30704(a) 36:507. July 19, 1954, ch. 536, §§7, 8, 68 Stat. 491 .
30704(b) 36:508.  

In subsection (a), the words "The board of directors is the governing body of the corporation" are substituted for "The corporation shall be governed by a board of directors" for consistency in the revised title.

In subsection (b), the words "from time to time" are omitted as unnecessary.


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