30.0143 Officers-Term.

Cite as [A.S.C.A. § 30.0143]

(a) Every corporation operating or organized under this chapter shall have a president, vice-president and treasurer, who is chosen by the Directors or stockholders as the bylaws may direct. They hold their offices until their successors are chosen and qualified.

(b) The corporation may have such other officers, agents, and factors as may be deemed necessary, who shall be chosen in such manner and hold their offices for such terms as may be prescribed by the bylaws or determined by the Board of Directors, and the corporation may secure the fidelity of any or all of such officers by bond or otherwise.

History: 1962, PL 7-20.