Montana Code 35-14-801. Board of directors — requirements — functions
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35-14-801. Board of directors — requirements — functions. (1) Except as may be provided in an agreement authorized under 35-14-732, each corporation must have a board of directors.
Terms Used In Montana Code 35-14-801
- 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.
- Oversight: Committee review of the activities of a Federal agency or program.
(2)Except as may be provided in an agreement authorized under 35-14-732 and subject to any limitation in the articles of incorporation permitted by 35-14-202(2), all corporate powers must be exercised by or under the authority of the board of directors, and the business and affairs of the corporation must be managed by or under the direction of and subject to the oversight of the board of directors.