47-11E-7. Qualifications of president, directors and officers.
50 words·~1 min read·
/sd/title-47/chapter-47-11/47-11e-7A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The president of a corporation formed pursuant to § 47-11E-1 shall be a shareholder and director; and, to the extent possible, all other directors and officers shall be persons having the qualifications prescribed in § 47-11E-5 . Lay directors and officers may not exercise any authority whatsoever over professional matters.