                                 CODE OF VIRGINIA

REQUIREMENT FOR AND DUTIES OF BOARD OF DIRECTORS (§ 13.1-853)

A. Except as provided in an agreement authorized by &#xA7; 13.1-852.1, each
corporation shall have a board of directors.

B. All corporate powers shall be exercised by or under the authority of, and the
business and affairs of the corporation managed under the direction of, its
board of directors, subject to any limitation set forth in the articles of
incorporation or in an agreement authorized by &#xA7; 13.1-852.1.

HISTORY: Code 1950, § 13.1-220; 1956, c. 428; 1983, c. 393; 1985, c. 522; 2007,
c. 925.