Title 14, Chapter 3, Section 801
( 14-3-801)
(a) Each corporation must have a board of directors. (b) Except as provided in this chapter or subsection (c) of this
Code section, all corporate powers shall be exercised by or under
the authority of, and the business and affairs of the corporation
managed under the direction of, its board. (c) No limitation upon the authority of the directors, whether
contained in the articles of incorporation or bylaws, shall be
effective against persons, other than members and directors, who are
without actual knowledge of the limitation. (d) The articles may authorize a person or persons to exercise some
or all of the powers which would otherwise be exercised by a board.
To the extent so authorized any such person or persons shall have
the duties and responsibilities of the directors, and the directors
shall be relieved to that extent from such duties and
responsibilities. |