Colorado § 11-30-108 Elections

Colorado Statutes

§ 11-30-108 — Elections

Colorado·Title 11 Financial·Art. Credit Unions - General Provisions

(1)At the annual meeting, or by other proper balloting within thirty days before and twenty days after the annual meeting, the credit union members shall elect from the membership a board of directors of not less than five members. A supervisory committee of not less than three members and a credit committee of not less than three members or a credit officer shall be elected by the credit union members or appointed by the board of directors as provided in the bylaws of the credit union. All such persons shall hold office for such terms respectively as the bylaws provide and until successors are elected or appointed and qualify. In addition, one or more alternate members of the credit committee may be elected by the credit union members or appointed by the board of directors to s

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(1) At the annual meeting, or by other proper balloting
within thirty days before and twenty days after the annual meeting, the credit union
members shall elect from the membership a board of directors of not less than five
members. A supervisory committee of not less than three members and a credit
committee of not less than three members or a credit officer shall be elected by the
credit union members or appointed by the board of directors as provided in the
bylaws of the credit union. All such persons shall hold office for such terms
respectively as the bylaws provide and until successors are elected or appointed
and qualify. In addition, one or more alternate members of the credit committee
may be elected by the credit union members or appointed by the board of directors
to serve in the absence of members of the credit committee. No member shall hold
more than one elected office simultaneously. A record of the names and addresses
of the members of the board and such committees, such alternates, and the officers
shall be filed with the commissioner within twenty days after their election or
appointment.

(2) Notwithstanding subsection (1) of this section, the board of directors may,
as provided in the bylaws, appoint an audit committee in lieu of a supervisory
committee to carry out the duties and responsibilities of the supervisory committee
as contained in section 11-30-111. A record of the names and addresses of the
members of the audit committee must be filed with the commissioner within twenty
days after their election or appointment.

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Legislative History

Source: L. 31: p. 300, � 8. CSA: C. 47, � 8. L. 41: p. 374, � 8. L. 47: p. 379, � 1. CRS 53: � 38-1-8. C.R.S. 1963: � 38-1-8. L. 67: p. 318, � 7. L. 77: Entire section amended, p. 567, � 1, effective July 1. L. 84: Entire section amended, p. 373, � 4, effective July 1. L. 2004: Entire section amended, p. 131, � 5, effective July 1. L. 2016: Entire section amended, (SB 16-125), ch. 99, p. 286, � 1, effective August 10.