The Business Corporation Law does, however, permit the bylaws to prescribe qualifications for directors, and citing the "business judgment rule," the courts have sustained bylaw amendments adopted by the boards that set forth qualifications for directors.
Is there anything I can do?... Michael Zullo, Manhattan A Steven M. Goldman, a Manhattan co-op lawyer, said qualifications for directors of a co-op are found in either the co-op's bylaws or certificate of incorporation.
Part of the NYSE's answer to the proliferation of accounting scandals among listed companies, for instance, has been to set clearer and more detailed qualifications for board directors who serve on audit committees.A director's lotTo get the right people, consultants say, their pay may have to rise.
Kathleen L. Casey, one of the commissioners, said she opposed some of the new requirements, like added information on qualifications of directors and candidates for the board, that she said could be "unduly burdensome".
Under those requirements, the role and authority of independent directors will be increased, new qualifications will be required for directors who run audit committees and new control and enforcement mechanisms will be adopted.
Qualifications for a funeral director's license vary from state to state.
Irreparable damage to Yahoo!'s culture will continue every day that the Board allows Mr. Thompson and Ms. Hart to remain at the helm of the Company after having clearly demonstrated that they lack even the "minimum qualifications for service as a director of the Company".
"Irreparable damage to Yahoo's culture will continue every day that the board allows Mr. Thompson and Ms. Hart to remain at the helm of the company after having clearly demonstrated that they lack even the 'minimum qualifications for service as a director of the company,' " Mr. Loeb wrote.
The NYSE and the Nasdaq worked for more than a year to come up with the reforms, which define more critically the qualifications for being an independent director.
Most companies explicitly lay out each director's qualifications for serving on the board to meet a recent Securities and Exchange Commission requirement.
Although SAT scores are intended to show only one aspect of a student's qualifications for admissions, Robert A. Schaeffer, public education director for FairTest, a group that opposes much of standardized testing, said the problem "could have undermined students' chances of admission, and changed where they applied to college".
