§ 17:3 — Domicile; organization and meetings of board

Louisiana § 17:3

• Jurisdiction: Louisiana
• Title 17: Credit Union Law

Text

A. The board shall be domiciled in the city of Baton Rouge, parish of East Baton Rouge.
B. The members of the board shall elect from among their number a president and a vice president and such other officers as they deem necessary, whose terms shall be as fixed by the board.
C. Six members of the board shall constitute a quorum for the transaction of business, and all official actions of the board shall require the favorable vote of a majority of the total membership.
D. The board shall adopt rules for the transaction of its business and shall keep an accurate record of all of its proceedings and official actions. All papers, documents, and records pertaining to the board shall be filed at the domicile of the board.
E. The board shall meet in regular session in January of each year and at such other times as are fixed by the board. Special meetings may be held upon call of the president, and the president shall call a special meeting whenever requested to do so by a majority of the total members of the board.

Legislative History

Acts 1975, No. 274, §1; Acts 1986, No. 485, §1.