The board of directors is the governing body and may exercise the corporation's powers
What the document says“``(a) Board of Directors.--The board of directors is the governing body of the corporation. The board may exercise, or provide for the exercise of, the powers of the corporation. The board of directors and the responsibilities of the board are as provided in the bylaws.”
The section amends section 70504 of title 36, United States Code, to read as quoted. The board of directors is the governing body of the corporation. The board may exercise the powers of the corporation, or provide for their exercise. The composition of the board and its responsibilities are as provided in the bylaws.
What the document actually says“``(a) Board of Directors.--The board of directors is the governing body of the corporation. The board may exercise, or provide for the exercise of, the powers of the corporation. The board of directors and the responsibilities of the board are as provided in the bylaws.”
The board runs the group. It can use the group's powers. It can also let others use them. The group's own rules say who is on the board.
A board is a set of people picked to run a group. This part does not name them. It points to the group's own rules.
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