32-1-909. Board of directors -- lack of quorum -- temporary board members.
134 words·~1 min read·
/mt/title-32/chapter-1/part-9/32-1-909·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
32-1-909 . Board of directors -- lack of quorum -- temporary board members. If at any time because of the suspension or removal of one or more board members pursuant to this part the board of directors of an institution has less than a quorum of board members not so suspended or removed, all powers and functions vested in or exercisable by the board shall vest in and be exercisable by the board members not so suspended or removed until such time as there is a quorum of the board members.
If all of the board members have been suspended or removed, the director shall appoint persons to serve temporarily as board members, pending the termination of the suspensions or removals or until such time as their successors are duly elected and take office.