FINRA Manual: Contents
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By-Laws of the Corporation
ARTICLE IX COMMITTEES
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Sec. 4. (a) The Board may appoint an Executive Committee, which shall, to the fullest extent permitted by the General Corporation Law of the State of Delaware and other applicable law, and subject to the Restated Certificate of Incorporation and these By-Laws, have and be permitted to exercise all the powers and authority of the Board in the management of the business and affairs of the Corporation between meetings of the Board, and which may authorize the seal of the Corporation to be affixed to all papers that may require it.
(b) The Executive Committee shall consist of no fewer than five and no more than eight Governors. The Executive Committee shall include the Chief Executive Officer of the Corporation and the Chair of the Board.
(c) An Executive Committee member shall hold office for a term of one year.
(d) At all meetings of the Executive Committee, a quorum for the transaction of business shall consist of a majority of the Executive Committee, including not less than 50 percent of the Public committee members. In the absence of a quorum, a majority of the committee members present may adjourn the meeting until a quorum is present.
Amended by SR-NASD-2007-023 eff. July 30, 2007.
Amended by SR-NASD-2004-110 eff. Dec. 31, 2004.
Amended by SR-NASD-2001-06 eff. May 8, 2001.
Amended by SR-NASD-98-56 eff. Oct. 30, 1998.
Adopted by SR-NASD-97-71 eff. Jan. 15, 1998.