Section 103 – Governance — Powers of governing body.

• (1) A governing board shall manage and direct the business and affairs of a governmental nonprofit corporation.

• (2) Each member of a governing board has and owes a fiduciary duty to the governmental nonprofit corporation.

• (3) A governing board:
  • (a) shall elect a chair from the members of the board; and
  • (b) subject to Subsection (4), may elect other officers as the board considers appropriate.

• (4)
  • (a) One person may not hold, at the same time, the offices of chair and treasurer, chair and clerk, or treasurer and clerk.
  • (b) An officer serves at the pleasure of the governing board.
  • (c) The governing board may designate a set term for each office.

Enacted by Chapter 441, 2017 General Session