13:12-9 - General powers of board of directors

13:12-9.  General powers of board of directors
    The directors elected pursuant to section 13:12-8 of this title shall manage  the affairs of the canal and banking company, and shall be fully vested with  all the rights and powers, except as modified by this chapter of the board of  directors of such company existing prior to March nineteen, one thousand nine  hundred and twenty-three, which former board, and the terms of office of the  members thereof are abolished.