To obtain authority to transact business in Arizona, complete and submit an Application for Authority (access the form through the FILE feature). 7. Unlike with a corporation's board of directors, there is no minimum requirement or number of officers for an Arizona corporation.A board of directors is a requirement when forming and maintaining a C Corp. The governor, who serves as chairperson. 2. Get a FREE attorney-drafted corporate bylaws template! Your corporate bylaws contain the rules for running your business. Yes you can run a company without an executive director or CEO. Many small companies do not have these two designations. The initial corporate meeting is the essential first step in forming a nonprofit organization. It is at this meeting that the initial board of directors is installed and officer titles determined.