According to the MBCA, all corporate powers shall be exercised by or under the authority of, and the business and affairs of a corporation shall be managed under the direction of a _____.

Question

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In a large corporation, especially where a number of the directors have full-time jobs elsewhere, it is impossible for the business of the corporation to be managed by a board of directors. Recognizing this, the MBCA now says: "All corporate powers shall be exercised by or under the authority of, and the business and affairs of a corporation shall be managed under the direction of, a board of directors."

According to the MBCA, All Corporate Powers Shall Be Exercised