18A:6-57. Meetings; transaction of business
153 words·~1 min read·
/nj/title-18a/chapter-6/18a-6-57A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The board of directors shall meet for the transaction of business at least once every two months throughout the year. A written record of all action taken by the board of directors shall be forwarded to the members of the representative assembly after each meeting.
The board shall not enter into a contract until the same has been presented and passed upon at a regularly called meeting of the board. The board may pay a bill or a demand for money against it by action of the board or as provided in section 4 of P.L.1982, c.196 (C.18A:19-4.1).
The board may designate its president, its vice-president and one other member of the board as an executive committee to administer the affairs of the board of directors between regularly convened meetings of the board.
A quorum shall consist of a majority of the members of the board of directors.
L.1968, c.243, s.7; amended 1989,c.254,s.7.