Yes, exactly. The NC Act is an old act. In this provision, and in other cases as well, the executive committee was useful in the period when it was difficult to get all the board members all together, especially if you had board members from across the country. Now with new technologies, it's easy for the board to call an ad hoc meeting if they need to, and they can do that by teleconference, or even by video conference now. So that's why the need for a smaller group of board members forming an executive committee isn't as important as it used to be.
On November 2nd, 2010. See this statement in context.