Source: http://www.mainelegislature.org/legis/statutes/13-C/title13-Csec826.html
Timestamp: 2017-12-12 22:06:26
Document Index: 265153630

Matched Legal Cases: ['§826', '§826', '§826', '§17', '§17', '§2', '§7', '§17', '§2', '§7', '§17', '§17', '§17', '§17', '§17', '§17', '§17', '§17']

Title 13-C, §826: Committees
§826 PDF
§826 MS-Word
1. Create committees. Unless this Act, the articles of incorporation or the bylaws provide otherwise, a corporation's board of directors may create one or more committees and appoint one or more members of the corporation's board of directors to serve on each of those committees.
[ 2003, c. 631, §17 (AMD) .]
2. Approval of committee. Unless this Act otherwise provides, the creation of a committee and appointment of members to a committee must be approved by the greater of:
A. A majority of all the directors in office when the action is taken; and [2003, c. 631, §17 (AMD).]
B. The number of directors required by the corporation's articles of incorporation or bylaws to take action under section 825. [2001, c. 640, Pt. A, §2 (NEW); 2001, c. 640, Pt. B, §7 (AFF).]
3. Requirements apply to committees. Sections 821 to 825 apply both to committees of the board and to the members of such committees.
A. Authorize or approve distributions except according to a formula or method or within limits that the corporation's board of directors prescribes; [2003, c. 631, §17 (AMD).]
B. Approve or propose to shareholders action that this Act requires be approved by shareholders; [2001, c. 640, Pt. A, §2 (NEW); 2001, c. 640, Pt. B, §7 (AFF).]
C. Fill vacancies on the corporation's board of directors or, subject to subsection 7, on any of its committees; or [2003, c. 631, §17 (AMD).]
D. [2003, c. 631, §17 (RP).]
E. Adopt, amend or repeal the corporation's bylaws. [2003, c. 631, §17 (AMD).]
F. [2003, c. 631, §17 (RP).]
G. [2003, c. 631, §17 (RP).]
H. [2003, c. 631, §17 (RP).]
[ 2003, c. 631, §17 (NEW) .]
2001, c. 640, §A2 (NEW). 2001, c. 640, §B7 (AFF). 2003, c. 631, §17 (AMD).