35-16-315. Directors -- number -- powers. (1) The corporate or district powers, business, and property of all corporations or districts formed under the provisions hereof must be exercised, conducted, and controlled by a board, which shall never be less than three members. Otherwise, the number of members of the board may be increased or diminished at any time by proper amendment of the bylaws with reference thereto.
(2) The directors shall have the power to sell, lease, mortgage, hypothecate, or otherwise dispose of the corporate assets of the corporation or district, or any part thereof, as distinguished from membership lands.
History: En. Sec. 4, Art. 2, Ch. 152, L. 1921; re-en. Sec. 6409, R.C.M. 1921; re-en. Sec. 6409, R.C.M. 1935; R.C.M. 1947, 14-313.
Structure Montana Code Annotated
Title 35. Corporations, Partnerships, and Associations
Chapter 16. Agricultural Associations
35-16-301. Members and membership lands
35-16-302. Procedure for receiving other members
35-16-303. Withdrawal of membership land -- procedure
35-16-304. Withdrawal -- application to court for order
35-16-305. through 35-16-310 reserved
35-16-311. Meetings -- voting -- proxies
35-16-312. Directors -- election -- term
35-16-313. Elections -- how conducted -- voting
35-16-314. Qualifications of directors -- quorum -- vacancies