Indiana Code 8-1-17-8. Board of directors; powers and duties
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Sec. 8. The board shall have power to do all things necessary or convenient in conducting the business of the cooperative corporation, including but not limited to:
(b) To appoint agents and employees and to fix their compensation and the compensation of the officers of the cooperative corporation.
(a) The power to make, alter, amend or repeal by-laws for the regulation and management of the affairs of the cooperative corporation not inconsistent with law or with the articles of incorporation.
Terms Used In Indiana Code 8-1-17-8
- Board: means the board of directors of a cooperative corporation. See Indiana Code 8-1-17-3
- Cooperative corporation: means a corporation formed under this chapter. See Indiana Code 8-1-17-3
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(c) To execute instruments.
(d) To delegate to one or more of the directors or to the agents and employees of the cooperative corporation such powers and duties as it may deem proper.
(e) To make its own rules and regulations as to its procedure.
Formerly: Acts 1951, c.193, s.8.