63E-2-105. Boards.
(1) As used in this section, "director" includes a trustee or other board member.
(2) Each independent corporation shall be governed by a board of directors.
(3) The authorizing statute of each independent corporation shall specify: the process for appointing, removing, and replacing directors; the number and terms of office for directors; the board chair selection procedure; board quorum requirements; director qualifications; and the duties and fiduciary responsibilities of directors.