47-13B-7. Qualifications of directors and officers--Restrictions on powers of lay directors and officers.
39 words·~1 min read·
/sd/title-47/chapter-47-13/47-13b-7A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The principal executive officer shall be a shareholder and a director and, to the extent possible, all other directors and principal officers shall be shareholders, and lay directors and officers shall not exercise any authority whatsoever over professional matters.