Rights of Officers

Question 1

Management

Answer 1

Officers are agents of the corporation. The bylaws usually describe the powers and duties of each officer and how officers will be replaced if they die or resign from their positions

Question 2

Authority

Answer 2

An officer can have actual or apparent authority. The act of giving an officer a
particular title creates apparent authority known as the power of position (i.e., it is reasonable for a third party to believe that the officer is authorized to act on behalf of the corporation)

Question 3

Removal

Answer 3

State laws generally permit the board of directors to remove an officer with or without cause