Business Structures R10-16B

Powers of directors.

1. Act as a single body; cannot act alone.
2. Issue stocks at mutually agreed prices.
3. Repurchase shares; hold treasury stocks; retire shares.
4. Create and disseminate corporate policy.
5. Hire and terminate officers and other employees.
6. Declare dividends; sell corporate property.
7. Set salaries for employees and self.