§ 70-718 — Board of directors; number; powers; qualifications

The business and affairs of a corporation shall be managed by a board of directors, not less than five in number, which shall exercise all the powers of the corporation except such as are conferred upon the members by sections 70-701 to 70-738 , by the articles of incorporation, or by the bylaws of the corporation. The bylaws may prescribe qualifications for directors.

Legislative History

Source: Laws 1937, c. 50, § 18, p. 208; C.S.Supp.,1941, § 70-818; R.S.1943, § 70-718.