339.408 Board of directors; advisory directors. - Florida Statutes

339.408 Board of directors; advisory directors.

   (1) Each corporation shall have a board of directors in which all powers of the corporation shall be vested and which shall consist of not fewer than three directors, each of whom shall be appointed by the secretary of the department for a term of no more than 4 years and shall be removable from office by the secretary at his or her discretion. The directors shall serve as such without compensation except that they shall be entitled to be reimbursed for their actual expenses incurred in the performance of their duties, pursuant to s. 112.061.

   (2) The board of directors may in turn appoint any number of advisory directors who may advise and assist the directors in the promotion and development of transportation facilities and systems. The advisory directors may serve until the completion of a particular project or at the will of the directors, but advisory directors shall have no vote in the affairs of the corporation, may not receive compensation for their services, and may not receive reimbursement for expenses.

History. s. 8, ch. 88-271; s. 505, ch. 95-148.