CPA · Business Corporations Act
Part 9 — Directors and Officers
115 Delegation to managing director or committee
number a managing director or a committee of directors and
delegate to the managing director or committee any of the powers
of the directors.
(2) Repealed 2020 c25 s1.
(3) Notwithstanding subsection (1), no managing director and no
committee of directors has authority to
(a) submit to the shareholders any question or matter requiring
the approval of the shareholders,
(b) fill a vacancy among the di rectors or in the office of auditor,
(b.1) appoint additional directors,
RSA 2000
(c) issue securities except in the manner and on the terms
authorized by the directors,
(d) declare dividends,
(e) purchase, redeem or otherwise acquire shares issued by the
corporation, except in the manner and on the terms
authorized by the directors,
(f) pay a commission referred to in section 42,
(g) approve a management proxy circular referred to in Part 12 ,
(h) approve any financial state ments referred to in section 155,
or
(i) adopt, amend or repeal bylaws.
RSA 2000 cB-9 s115;2005 c8 s24;2016 c18 s1;
2020 c25 s1