13.1-673 - Requirement for and duties of board of directors. - Virginia Statutes

§ 13.1-673. Requirement for and duties of board of directors.

A. Except as provided in an agreement authorized by § 13.1-671.1, eachcorporation shall have a board of directors.

B. All corporate powers shall be exercised by or under the authority of, andthe business and affairs of the corporation managed under the direction of,its board of directors, subject to any limitation set forth in the articlesof incorporation or in an agreement authorized under § 13.1-671.1.

(Code 1950, § 13.1-35; 1956, c. 428; 1985, c. 522; 1990, c. 337; 2005, c.765.)