2006 Louisiana Laws - RS 22:340 — Directors

§340.  Directors

Subject to such limitations, restrictions or reservations as may be provided in the articles, the by-laws or this Part, all of the corporate powers shall be vested in and the affairs of the association shall be managed by a board of not less than three nor more than fifteen directors who must be policyholders in good standing.  

The number, qualifications, terms of office, manner of election, time and place of and manner of calling and holding meetings, powers and duties, method of and cause for removal of directors may, subject to the provisions of this Part, be prescribed by the articles or by-laws.  

Unless otherwise provided in the articles, a majority of the board of directors shall be necessary to constitute a quorum for the exercise of any of the powers conferred by the articles or this Part upon the board.  

Acts 1958, No. 125.