Is this permissible delegation of corporate authority

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Reference no: EM1380600

Q. directors of Schally's, Inc. can't decide whether to declare a dividend so board appoints a committee consisting of president of corporation, vice - president of corporation also treasurer to decide whether to pay a dividend. If committee wants to declare a dividend, directors say officers can pay it immediately before next board meeting. Is this permissible delegation of corporate authority? Explain.

Reference no: EM1380600

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