Corporations Code Section 5032. “Approval by Board” Defined
“Approved by (or approval of) the board” means approved or ratified by the vote of the board or by the vote of a committee authorized to exercise the powers of the board, except as to matters not within the competence of the committee under Section 5212, Section 7212, or Section 9212.
(Added by Stats. 1978, Ch. 567.)