The Law of Corporations in a Nutshell (Nutshell Series)

The holders of Amtrak's preferred stock select two more directors, who serve 1-year terms. § 543(a)(1)(E). A term employed in this subpart to denote a person or group, other than the board of directors or a committee thereof, who pursuant to authority expressly conferred by this subpart may be vested by the bylaws of the corporation with powers that, if not vested by the bylaws in the person or group, would by this subpart be required to be exercised by: (2) a convention or assembly of delegates of members established pursuant to any provision of this subpart; or (3) the board of directors.

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