California Financial Code

§ 32330

FIN § 32330Div. 15.5 · Ch. 2 · Art. 4

Statute text

The management of the corporation shall be conducted by the board of directors, subject to the following limitations:

(a)All action taken by the board of directors shall require the approval of a majority of the board present at a meeting at which there is a quorum or by unanimous written consent of all directors.

(b)The board of directors shall file revised articles of incorporation with the Secretary of State no later than January 30, 1990.

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Legislative history

Amended by Stats. 1989, Ch. 1040, Sec. 10.