Do You Have The Correct Authorized Number Of Directors? Posted on March 15, 2015 in Business Law
We have found corporations with the wrong number of authorized directors numerous times in our many years of practice. California, unlike other states, has some very precise rules and these frequently seem missed. The Bylaws of many California corporations establish a minimum and maximum number of directors and permit the board to fix the exact number within that range. The Bylaws might provide for a minimum of 3 directors and a maximum of 7. Unfortunately, this is ...