Indiana § 23-17-12-1 Necessity of having board of directors; exercise of corporate powers;
management of corporate business; delegation of powers

Indiana Statutes

§ 23-17-12-1 — Necessity of having board of directors; exercise of corporate powers; management of corporate business; delegation of powers

Indiana·Title 23 BUSINESS AND OTHER ASSOCIATIONS·Art. 17 NONPROFIT CORPORATIONS·Ch. 12 Directors

(a)A corporation must have a board of directors.

(b)Except as otherwise provided in this article:

(1)corporate powers shall be exercised by or under the authority of; and

(2)the business and affairs of the corporation managed under the direction of; the corporation's board of directors.

(c)Articles of incorporation may authorize a person or a group of persons or the manner of designating a person or a group of persons to exercise some or all of the powers that would otherwise be exercised by a board of directors. To the extent authorized:

(1)the person or group of persons has the duties and responsibilities of the directors;

(2)the directors are relieved to that extent from the duties and responsibilities; and

(3)the person or group of persons should be considered a director or dir

Free access — add to your briefcase to read the full text and ask questions with AI

(a) A corporation must have a board of
directors.
(b) Except as otherwise provided in this article:
(1) corporate powers shall be exercised by or under the authority
of; and
(2) the business and affairs of the corporation managed under the
direction of;
the corporation's board of directors.
(c) Articles of incorporation may authorize a person or a group of
persons or the manner of designating a person or a group of persons to
exercise some or all of the powers that would otherwise be exercised
by a board of directors. To the extent authorized:
(1) the person or group of persons has the duties and
responsibilities of the directors;
(2) the directors are relieved to that extent from the duties and
responsibilities; and
(3) the person or group of persons should be considered a director
or directors for purposes of IC 23-17-13 and IC 23-17-16.

Indiana § 23-17-12-1 (Necessity of having board of directors; exercise of corporate powers; management of corporate business; delegation of powers) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.