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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) Board of trustees.--(1) The board of trustees is the governing body of the corporation. The board shall exercise the powers granted to the corporation.
(2) The board shall consist of at least 9 but not more than 19 members. A vacancy on the board shall be filled by decision of the remaining members of the board.
(3) The board shall adopt a seal under which all acts of the corporation shall be passed and authenticated.
(b) Officers.--(1) The board shall elect officers the board considers necessary, including a treasurer, for the term and at the compensation the board decides, as provided in the bylaws.
(2) The treasurer shall give a bond as provided in the bylaws.
(3) The board may remove an officer, employee, or agent of the corporation for a cause provided in the bylaws.
Cite this article: FindLaw.com - 36 U.S.C. § 70703 - U.S. Code - Unannotated Title 36. Patriotic and National Observances, Ceremonies, and Organizations § 70703. Governing body - last updated January 01, 2024 | https://codes.findlaw.com/us/title-36-patriotic-and-national-observances-ceremonies-and-organizations/36-usc-sect-70703/
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