Section 10.15.140. Qualifications and membership of board of directors.

Latest version.

   (a) The board of directors shall manage the business and affairs of a cooperative.  Each director shall be a member or a representative of a member who is not a natural person. Unless the bylaws otherwise provide, directors need not be residents of this state.  The bylaws may prescribe other qualifications for directors and may provide that directors be from specified state districts.
   (b) The board of directors shall consist of at least three members.  The number of directors shall be fixed or determined by the bylaws, except that the number constituting the initial board shall be fixed by the articles.

Notes

History

(Sec. 20(1) - (2) ch 107 SLA 1959)

                    
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