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Current as of March 28, 2024 | Updated by FindLaw Staff
(a) The board may elect from its number a chair, a secretary, and such vice chairpersons as it deems necessary. The powers, duties, term of office, and compensation shall be provided for in the bylaws.
(b)(1) The board may appoint a chief executive officer, president, or manager, a treasurer, who may be the same person elected to the office of secretary, and such vice presidents as it deems necessary. The powers, duties, term of office, and compensation of the foregoing officers shall be provided for by the board of directors.
(2) The chief executive officer, president, or manager may be an elected member of the board or an ex officio member of the board as provided for in the bylaws. Such an officer may be a member of an executive committee, if one is created by the corporation and the officer is an elected member of the board. Otherwise, the officer may be an ex officio member of an executive committee as provided for in the bylaws.
(c) The board shall appoint such other officers, agents, and employees as it deems necessary and fix their powers, duties, and compensation.
(d) Any officer, agent, or employee elected or appointed by the board may be removed by it whenever in its judgment the best interests of the corporation will be served.
Cite this article: FindLaw.com - Arkansas Code Title 23. Public Utilities and Regulated Industries § 23-18-323. Officers and employees--Generally - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-23-public-utilities-and-regulated-industries/ar-code-sect-23-18-323/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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