The Associated Press assumed its modern legal form in 1900 when AP incorporated as a not-for-profit cooperative under the Membership Corporation Law of New York State.

The AP membership elects the Board of Directors, AP's governing body. By charter there are at least 18 and not more than 24 directors. At least three directors must represent newspapers which are published in cities of less than 50,000 population and which are not controlled by or affiliated with papers published in cities of more than 50,000.

AP's bylaws authorize the Board, by majority vote, to appoint four additional directors for two-year terms. Representatives of the broadcast membership traditionally hold these seats.

The President directs AP operations under powers granted by the Board of Directors.

The present President and Chief Executive Officer, Tom Curley assumed the position in 2003. He is the 12th chief executive to be entrusted with the responsibility since AP's establishment in 1848.