2019 PRCA Rule Book

CHAPTER 5 **CHIEF EXECUTIVE OFFICER**

B5.0 Appointment and Removal. The Board of Directors, by the affirmative vote of at least seven directors, shall select and employ a person of known integrity to serve as Chief Executive Officer (“CEO”) of the PRCA and shall determine the period and fix the compensation of his employment. The Board of Directors, by the affirmative vote of at least seven directors, may remove the CEO from office whenever in its judgment, the best interests of the PRCA would be served thereby, but such removal shall be without prejudice to the contract rights, if any, of the CEO so removed. B5.1 Duties. Unless modified by the Board of Directors, the duties of the CEO shall include, but shall not be limited to, the following: B5.1.1 Chief Executive Officer of PRCA. The CEO shall be the Chief Executive Officer of the PRCA and shall generally be responsible for performing executive functions in connection with day-to-day operations. In this regard, the CEO shall follow the directives of the Board of Directors and shall execute and enforce the policies established from time to time by the Board. B5.1.2 Principal Executive Officer and President of PRCAProperties. The CEO shall be the principal executive officer of PRCA Properties and shall have general supervision of its business and affairs and shall generally supervise all of its employees. B5.1.3 Interpret Bylaws. The CEO shall interpret from time to time the Bylaws of the PRCA consistent with the instruction and direction of the Board of Directors. B5.1.4 Annual Report. The CEO shall render an Annual Report to the Board of Directors at a regularly scheduled Board meeting to be designated by the Board. B5.1.5 No Financial Interest. The CEO shall have no financial interest, direct or indirect, in any professional sport. B5.1.6 Surety Bond. The CEO shall file and maintain a surety bond in an appropriate amount as determined by the Board of Directors establishing the PRCA as a beneficiary; said bond shall be conditioned upon faithful performance by the CEO of his duties. The expenses for such bond shall be paid by the PRCA. B5.2 Rights and Authority. Unless modified by the Board of Directors, the rights and authority of the CEO shall include, but shall not be limited to, the following:

CHIEF EXECUTIVE OFFICER

2019

51

Made with FlippingBook - Online catalogs