9-4-905 - President and chief executive officer -- Secretary-treasurer -- Powers and duties -- Power to employ experts -- Power to employ independent legal counsel.
9-4-905. President and chief executive officer -- Secretary-treasurer -- Powers andduties -- Power to employ experts -- Power to employ independent legal counsel.
(1) (a) The trustees shall appoint a president who shall be the chief executive officer ofthe corporation, but who may not be a trustee of the corporation, and who shall serve at thepleasure of the trustees and receive compensation as set by the trustees.
(b) The president, who shall also be the secretary-treasurer, shall administer, manage, anddirect the affairs and activities of the corporation in accordance with the policies, control, anddirection of the trustees.
(c) The president shall approve all accounts for salaries, allowable expenses of thecorporation, or of any corporation employee or consultant, and expenses incidental to theoperation of the corporation.
(d) The president shall perform any other duties as may be directed by the trustees incarrying out the purposes of this part.
(2) (a) The president shall:
(i) attend the meetings of the corporation;
(ii) keep a record of the proceedings of the corporation; and
(iii) maintain and be custodian of all:
(A) books, documents, and papers filed with the corporation;
(B) the minute book or journal of the corporation; and
(C) its official seal.
(b) The president may cause copies to be made of all minutes and other records anddocuments of the corporation and may give certificates under seal of the corporation to the effectthat those copies are true copies, and all persons dealing with the corporation may rely upon thosecertificates.
(3) (a) The corporation may employ or engage technical experts, independentprofessionals and consultants, and any other officers, agents, or employees, permanent ortemporary, as it considers necessary to carry out the efficient operation of the corporation, andshall determine their qualifications, duties, and compensation.
(b) The trustees may delegate to one or more of the corporation's agents, representatives,or employees any administrative duties as they consider proper.
(4) The corporation may employ and retain independent legal counsel.
Amended by Chapter 319, 2001 General Session