Idaho Code 50-2704 – Board of Directors of a Public Corporation
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 50-2704
- Board of directors: means the board of directors of a public corporation. See Idaho Code 50-2702
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Ordinance: means any appropriate method of taking official action or adopting a legislative decision by any municipality, whether known as a resolution, ordinance or otherwise. See Idaho Code 50-2702
- Quorum: The number of legislators that must be present to do business.
The ordinance creating a public corporation shall include provisions establishing a board of directors to govern the affairs of the corporation, what constitutes a quorum of the board of directors, and how the corporation shall conduct its affairs. The board of directors will consist of no less than three (3) members.