15-3-125. DUTIES OF BOARD OF DIRECTORS.

1. Except as provided in subsection (b) below, all corporate powers shall be exercised by or under the authority of, and the affairs of the corporation managed under the direction of, its board of directors.
2. The articles may authorize a person or person to exercise some or all of the powers which would otherwise be exercised by a board. To the extent so authorized any such person or persons shall have the duties and responsibilities of directors, and the directors shall be relieved to that extent from such duties and responsibilities.