6-532. Election of board
A. The board shall consist of at least five directors, to be elected by and from
the members. Elections shall be held at the annual meeting or in such other manner as
the bylaws provide. All members of the board are entitled to hold office for the terms
the bylaws provide, except that terms shall be staggered so that an approximately equal
number expire each year, over a three year period.
B. At a meeting held within thirty days after each annual election, the board of
directors shall appoint a supervisory committee of not fewer than three persons for such
terms as the bylaws provide. At the same meeting, the board of directors shall appoint a
credit committee, unless the bylaws provide for a credit manager in place of a credit
committee. The credit committee shall consist of not fewer than three persons whose
terms shall be as the bylaws provide. Within twenty days after the meeting, the credit
union shall file with the superintendent a record of the names and addresses of the
members of the board and such other committees and officials as required by the
superintendent. Within sixty days of any vacancies occurring in the board or supervisory
or credit committee, the board shall fill the vacancies in accordance with the bylaws. A
record of the names and addresses of members filling any vacancies on the board or the
supervisory or credit committee shall be filed with the superintendent within twenty days
after their appointment.
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