The statutory authority granted to the board of directors to manage the business and affairs of the corporation is absolute and may not be limited in any way by the articles of incorporation or the corporate shareholders.

Question

Quizplus · Accepted Answer

The statutory authority granted to the board of directors can indeed be limited by the articles of incorporation or bylaws, and in some cases, certain decisions may require shareholder approval.

The Statutory Authority Granted to the Board of Directors to Manage