District of Columbia § 26-505.02 Election of a board of directors.

District of Columbia Statutes

§ 26-505.02 — Election of a board of directors.

District of Columbia § 26-505.02

JurisdictionDistrict of Columbia

Title 26Banks and Other Financial Institutions.

Ch. 5Credit Unions.

Subch. ICredit Union Act of 2020.

Part ECredit Union Governance.

This text of District of Columbia § 26-505.02 (Election of a board of directors.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 26-505.02 (2026).

Text

(1)A board of directors shall:

(A)Consist of an odd number of directors;

(B)Be at least 5 in number; and

(C)Be elected by and from natural person members.

(2)A District credit union's bylaws shall set forth the qualifications for nomination to the board.

(b)All members of the board of directors shall hold office for the terms provided for in the bylaws. Terms may be staggered so that an approximately equal number of terms expire each year.

(c)A director shall hold office for the term for which the director was elected and until a successor is elected and qualified.

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(1) A board of directors shall:

(A) Consist of an odd number of directors;

(B) Be at least 5 in number; and

(C) Be elected by and from natural person members.

(2) A District credit union's bylaws shall set forth the qualifications for nomination to the board.

(b) All members of the board of directors shall hold office for the terms provided for in the bylaws. Terms may be staggered so that an approximately equal number of terms expire each year.

(c) A director shall hold office for the term for which the director was elected and until a successor is elected and qualified.