§ 23-18-323 — Officers, agents, and employees

Arkansas § 23-18-323

• Jurisdiction: Arkansas
• Title: 23

Text

(a) The board may elect from its number a chair, a secretary, and such vice chairpersons as it deems necessary. The powers, duties, term of office, and compensation shall be provided for in the bylaws. (b) (1) The board may appoint a chief executive officer, president, or manager, a treasurer, who may be the same person elected to the office of secretary, and such vice presidents as it deems necessary. The powers, duties, term of office, and compensation of the foregoing officers shall be provided for by the board of directors. (2) The chief executive officer, president, or manager may be an elected member of the board or an ex officio member of the board as provided for in the bylaws. Such an officer may be a member of an executive committee, if one is created by the corporation and the officer is an elected member of the board. Otherwise, the officer may be an ex officio member of an executive committee as provided for in the bylaws. (c) The board shall appoint such other officers, agents, and employees as it deems necessary and fix their powers, duties, and compensation. (d) Any officer, agent, or employee elected or appointed by the board may be removed by it whenever in its judgment the best interests of the corporation will be served.

Legislative History

Acts 1937, No. 342, § 23; Pope's Dig., § 2337; Acts 1981, No. 355, § 1; A.S.A. 1947, § 77-1123.