2.2-2262 - Board of directors.
§ 2.2-2262. Board of directors.
The powers of the Authority shall be exercised by a governing body consistingof the members of the Authority acting as a board. The Board shall elect fromits membership a vice-chairman, treasurer and secretary. The offices ofsecretary and treasurer may be combined. The Board may elect such otherofficers who need not be a member of the Board.
Four members shall constitute a quorum of the Board for the purpose oforganizing the Authority, conducting its business, and for all otherpurposes. All actions shall be taken by vote of a majority of the members ofthe Board, unless Authority bylaws require a larger number.
The Board shall have full authority to manage the properties and business ofthe Authority, and to prescribe, amend, and repeal bylaws, rules, andregulations governing the manner in which the business of the Authority maybe conducted, and the powers granted to it may be exercised. The Board mayassign to the Treasury Board or the State Treasurer such powers and duties asit deems proper.
(1981, c. 569, § 2.1-234.25; 1993, Sp. Sess., c. 1; 1996, c. 835; 1998, cc.498, 504; 2001, c. 844.)