                                 CODE OF VIRGINIA

REQUIREMENT FOR AND DUTIES OF BOARD OF DIRECTORS (§ 13.1-673)

A. Except as provided in an agreement authorized by &#xA7; 13.1-671.1, each
corporation shall have a board of directors.

B. All corporate powers shall be exercised by or under the authority of the
board of directors, and the business and affairs of the corporation managed
under the direction, and subject to the oversight, of the board of directors,
subject to any limitation set forth in the articles of incorporation permitted
by subdivision B 3 of &#xA7; 13.1-619 or in an agreement authorized under &#xA7;
13.1-671.1.

HISTORY: Code 1950, § 13.1-35; 1956, c. 428; 1985, c. 522; 1990, c. 337; 2005,
c. 765; 2019, c. 734.