§ 70504. Governing body
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/usc/title-36/section-70504A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Board of Directors.— The board of directors is the governing body of the corporation. The board may exercise, or provide for the exercise of, the powers of the corporation. The board of directors and the responsibilities of the board are as provided in the bylaws.
(b)Officers.— The officers and the election of the officers are as provided for in the bylaws.
(Pub. L. 105–225, Aug. 12, 1998, 112 Stat. 1352; Pub. L. 119–57, § 4, Dec. 12, 2025, 139 Stat. 711.)
In subsection (a), the names of the directors for 1954 and the language about their initial terms are omitted as obsolete. In paragraph (2), the words “caused by expiration of the members’ terms or otherwise” are omitted as unnecessary.
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- Pub. L. 105–225
- 112 Stat. 1352
- 139 Stat. 711
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§ 70504
Governing body
Pub. L.Pub. L. 105–225
Stat.112 Stat. 1352
Stat.139 Stat. 711
Cites 4Cited by 0 across 0 sources