What to keep in mind
Compare bylaws, management structure, resolutions, powers, limits and real operating practice.
An informal organization chart may not establish valid authority for important corporate acts.
Distinctions often confused
Delegating work does not necessarily transfer the governing body's statutory duties.
Frequently asked questions
Can directors delegate all decisions?
Not without regard to reserved corporate powers and legal limits.
Should delegations be documented?
Yes, especially where third parties or material assets are involved.
Informational content. It is not a substitute for professional advice.