17:52-13. Directors
65 words·~1 min read·
/nj/title-17/chapter-52/17-52-13·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The business and affairs of every business development corporation shall be managed by a board of directors consisting of not less than 9 and not more than 18, as the by-laws may prescribe. Not less than 2/3 of the directors shall be elected by the members of the corporation, and the remainder shall be elected by the stockholders.
L.1957, c. 218, p. 759, s. 13.