30.0140 Directors-Number.

Cite as [A.S.C.A. § 30.0140]

(a) The business of every corporation organized under the provisions of this chapter shall be managed by a Board of Directors, except as otherwise provided in this chapter or the cor-poration’s articles of incorporation.

(b) The number of directors which constitutes the whole board must be such as is fixed by, or in the manner provided in, the bylaws, but in no case may the number be less than 3. Directors need not be stockholders unless so required by the articles.

History: 1962, PL 7-20.