Iowa Code 490.801 – Requirement for and functions of board of directors
Current as of: 2024 | Check for updates
|
Other versions
1. Except as may be provided in an agreement authorized under section 490.732, each corporation shall have a board of directors.
Terms Used In Iowa Code 490.801
- Articles of incorporation: means the articles of incorporation described in section 490. See Iowa Code 490.140
- 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.
- Oversight: Committee review of the activities of a Federal agency or program.
2. Except as may be provided in an agreement authorized under section 490.732, and subject to any limitation in the articles of incorporation permitted by section 490.202, subsection 2, all corporate powers shall be exercised by or under the authority of the board of directors, and the business and affairs of the corporation shall be managed by or under the direction, and subject to the oversight, of the board of directors.