California Statutes
§ 12350. — 12350. (Amended by Stats. 1996, Ch. 589, Sec. 47.)
California·Code CORP Corporations Code - CORP·Div. 3.·Title 1. DIVISION 3. CORPORATIONS FOR SPECIFIC PURPOSES·Part 2. PART 2. COOPERATIVE CORPORATIONS·Ch. 2. CHAPTER 2. Directors and Management·Art. 1. ARTICLE 1. General Provisions
Each corporation shall have a board of directors. Subject to the provisions of this part and any limitations in the articles or bylaws relating to action required to be approved by the members (Section 12224), or by a majority of all members (Section 12223), the activities and affairs of a corporation shall be conducted and all corporate powers shall be exercised by or under the direction of the board. The board may delegate the management of the activities of the corporation to any person or persons, management company, or committee however composed, provided that the activities and affairs of the corporation shall be managed and all corporate powers shall be exercised under the ultimate direction of the board.
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California § 12350. (12350. (Amended by Stats. 1996, Ch. 589, Sec. 47.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 1996, Ch. 589, Sec. 47. Effective January 1, 1997.