; and (B) not later than 30 days after determining that a breach has occurred. (2) Limited private right of action The Corporation shall have the exclusive right to seek injunctive or monetary relief (or both) against a Director or former Director for a breach of a fiduciary duty to the Corporation. (d) Prohibition on indemnification and certain insurance Notwithstanding section 90312 or any other provision of law, the Corporation shall neither indemnify nor procure insurance to indemnify any Director for liability relating to a breach of a fiduciary duty to the Corporation. 90308. Bylaws and duties (a) In general The Board shall adopt and amend the bylaws of the Corporation. (b) Bylaws The bylaws of the Corporation shall include, at a minimum— (1) the duties and responsibilities of the Board (including those described in subsection (c)), officers, Advisory Board, and committees of the Corporation; and (2) the operational procedures of the Corporation. (c) Duties and responsibilities of Board The Board shall be responsible for actions of the Corporation, including— (1) adoption of an annual budget; (2) approval of a strategic plan, including updates thereto, and other plans supporting the strategy laid out in the strategic plan; (3) authorization of any form or instrument of indebtedness, including loans and bond issues; (4) assessment, modification, and collection of charges and fees for air traffic services in accordance with the standards described in section 90313; (5) hiring and supervision of the CEO; (6) establishment and maintenance of an appropriately funded reserve fund; (7) adoption of a code of conduct and code of ethics for Directors, officers, agents, and employees of the Corporation; (8) establishment of a process for ensuring that the fiduciary duties of a Director are solely and exclusively to the Corporation; (9) establishment of a process for the removal of a Director, including the removal of a Director for breach of a fiduciary duty to the Corporation