10-2059. Officers of cooperative
The officers of a cooperative shall consist of a president, vice-president,
secretary and treasurer, who shall be elected annually by and from the board of
directors. If stated in the bylaws, the officers of the cooperative do not have to be
directors. Unless the bylaws provide otherwise, if a person holding any office ceases to
be a director the person shall cease to hold the office. The offices of secretary and
treasurer may be held by the same person. The board of directors may also elect or
appoint all other officers, agents or employees it deems necessary or advisable and shall
prescribe their powers and duties. An officer may be removed from office and his
successor may be elected in the manner prescribed in the bylaws.
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