KRS 304.32-070: Management.

The property and lawful business of every corporation subject to the provisions of this

subtitle shall be held and managed by a governing board of trustees or directors with such

powers and authority as shall be necessary or instrumental to the complete ex ecution of

purposes of each corporation as limited by its articles of incorporation and bylaws. The

number of directors of such corporation shall not be less than ten (10), and subject to such

limitation, the number of directors shall be fixed by the bylaw s, except as to the number

of the first board of directors, which shall be fixed by the articles of incorporation.