Code of Virginia § 13.1-673. Requirement for and duties of board of directors.

108 words·~1 min read·/va/title-13-1/chapter-9/13-1-673

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A. Except as provided in an agreement authorized by § 13.1-671.1 , each corporation shall have a board of directors.

B. All corporate powers shall be exercised by or under the authority of the board of directors, and the business and affairs of the corporation managed under the direction, and subject to the oversight, of the board of directors, subject to any limitation set forth in the articles of incorporation permitted by subdivision B 3 of § 13.1-619 or in an agreement authorized under § 13.1-671.1 .

Code 1950, § 13.1-35; 1956, c. 428; 1985, c. 522; 1990, c. 337; 2005, c. 765 ; 2019, c. 734 .