17-4661.Board of directors.
(a) The business of a cooperative shall be managed by a board of
not less than five directors, each of whom shall be a member of the
cooperative. The bylaws shall prescribe the number of directors, their
qualifications, other than those prescribed in the renewable energy electric
generation cooperative act, the manner of holding meetings of the board of
directors and of electing successors to directors who resign, die or are
otherwise incapable of acting as a director. The bylaws may also provide for
the removal of directors from office and for the election of their successors.
Directors shall not receive any salary for their services as directors and,
except in emergencies, shall not be employed by the cooperative in any capacity
involving compensation without the approval of the members. The bylaws may
provide that a fixed fee and expenses of attendance may be allowed to each
director for attendance at each meeting of the board of directors and for other
functions duly authorized for and on behalf of the cooperative.
(b) The directors of a cooperative named in any articles of incorporation,
consolidation, merger or conversion shall hold office until the next annual
meeting of the members and until their successors are elected and qualify. At
each annual meeting or, in case of failure to hold the annual meeting as
specified in the bylaws, at a special meeting called for that purpose, the
members shall elect directors to hold office until the next annual meeting of
the members, except as otherwise provided in the renewable energy electric
generation cooperative act. Each director shall hold office for the term for
which elected and until a successor is elected and qualifies.
(c) Instead of electing all the directors annually, the bylaws may provide
for half of the directors, or a number as near thereto as possible, to be
elected to serve until the next annual meeting of the members and that the
remaining directors shall be elected to serve until the second succeeding
annual meeting. Thereafter, as directors' terms expire, the members shall elect
successor directors to serve until the second succeeding annual meeting after
their election.
(d) Instead of electing the directors in the manner provided in subsection
(b) or (c), the bylaws may provide that the members shall be elected at such
annual meetings to serve for terms of three years, except that the terms of the
first directors elected pursuant to this subsection may be fixed in such bylaws
for a number of years not exceeding three and, upon the expiration thereof, all
members thereafter to be elected for terms of three years.
(e) A majority of the board of directors shall constitute a quorum.
(f) If a husband and wife hold a joint membership in a cooperative, either
one, but not both, may be elected a director.
17-4661.Board of directors.
(a) The business of a cooperative shall be managed by a board of
not less than five directors, each of whom shall be a member of the
cooperative. The bylaws shall prescribe the number of directors, their
qualifications, other than those prescribed in the renewable energy electric
generation cooperative act, the manner of holding meetings of the board of
directors and of electing successors to directors who resign, die or are
otherwise incapable of acting as a director. The bylaws may also provide for
the removal of directors from office and for the election of their successors.
Directors shall not receive any salary for their services as directors and,
except in emergencies, shall not be employed by the cooperative in any capacity
involving compensation without the approval of the members. The bylaws may
provide that a fixed fee and expenses of attendance may be allowed to each
director for attendance at each meeting of the board of directors and for other
functions duly authorized for and on behalf of the cooperative.
(b) The directors of a cooperative named in any articles of incorporation,
consolidation, merger or conversion shall hold office until the next annual
meeting of the members and until their successors are elected and qualify. At
each annual meeting or, in case of failure to hold the annual meeting as
specified in the bylaws, at a special meeting called for that purpose, the
members shall elect directors to hold office until the next annual meeting of
the members, except as otherwise provided in the renewable energy electric
generation cooperative act. Each director shall hold office for the term for
which elected and until a successor is elected and qualifies.
(c) Instead of electing all the directors annually, the bylaws may provide
for half of the directors, or a number as near thereto as possible, to be
elected to serve until the next annual meeting of the members and that the
remaining directors shall be elected to serve until the second succeeding
annual meeting. Thereafter, as directors' terms expire, the members shall elect
successor directors to serve until the second succeeding annual meeting after
their election.
(d) Instead of electing the directors in the manner provided in subsection
(b) or (c), the bylaws may provide that the members shall be elected at such
annual meetings to serve for terms of three years, except that the terms of the
first directors elected pursuant to this subsection may be fixed in such bylaws
for a number of years not exceeding three and, upon the expiration thereof, all
members thereafter to be elected for terms of three years.
(e) A majority of the board of directors shall constitute a quorum.
(f) If a husband and wife hold a joint membership in a cooperative, either
one, but not both, may be elected a director.
17-4661.Board of directors.
(a) The business of a cooperative shall be managed by a board of
not less than five directors, each of whom shall be a member of the
cooperative. The bylaws shall prescribe the number of directors, their
qualifications, other than those prescribed in the renewable energy electric
generation cooperative act, the manner of holding meetings of the board of
directors and of electing successors to directors who resign, die or are
otherwise incapable of acting as a director. The bylaws may also provide for
the removal of directors from office and for the election of their successors.
Directors shall not receive any salary for their services as directors and,
except in emergencies, shall not be employed by the cooperative in any capacity
involving compensation without the approval of the members. The bylaws may
provide that a fixed fee and expenses of attendance may be allowed to each
director for attendance at each meeting of the board of directors and for other
functions duly authorized for and on behalf of the cooperative.
(b) The directors of a cooperative named in any articles of incorporation,
consolidation, merger or conversion shall hold office until the next annual
meeting of the members and until their successors are elected and qualify. At
each annual meeting or, in case of failure to hold the annual meeting as
specified in the bylaws, at a special meeting called for that purpose, the
members shall elect directors to hold office until the next annual meeting of
the members, except as otherwise provided in the renewable energy electric
generation cooperative act. Each director shall hold office for the term for
which elected and until a successor is elected and qualifies.
(c) Instead of electing all the directors annually, the bylaws may provide
for half of the directors, or a number as near thereto as possible, to be
elected to serve until the next annual meeting of the members and that the
remaining directors shall be elected to serve until the second succeeding
annual meeting. Thereafter, as directors' terms expire, the members shall elect
successor directors to serve until the second succeeding annual meeting after
their election.
(d) Instead of electing the directors in the manner provided in subsection
(b) or (c), the bylaws may provide that the members shall be elected at such
annual meetings to serve for terms of three years, except that the terms of the
first directors elected pursuant to this subsection may be fixed in such bylaws
for a number of years not exceeding three and, upon the expiration thereof, all
members thereafter to be elected for terms of three years.
(e) A majority of the board of directors shall constitute a quorum.
(f) If a husband and wife hold a joint membership in a cooperative, either
one, but not both, may be elected a director.