Montana § 35-17-312 Officers -- Election -- Bank As Treasurer

Montana Statutes

§ 35-17-312 — Officers -- Election -- Bank As Treasurer

Montana·Title 35 CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS·Ch. 17 COOPERATIVE AGRICULTURAL MARKETING·Part 3 Operation -- Members, Directors, and Officers

35-17-312 . Officers -- election -- bank as treasurer.

(1)The directors shall elect from their number a president and one or more vice presidents. They shall also elect a secretary and treasurer who need not be directors, and they may combine the two latter offices and designate the combined office as secretary-treasurer. The treasurer may be a bank or any depositary, in which case it may not be considered an officer but instead a function of the board of directors, and the secretary shall perform the usual accounting duties of the treasurer, except that the funds must be deposited only as authorized by the board of directors.

(2)(a) If the bylaws provide, the directors may also elect from their number a presiding officer and one or more vice presiding officers, in which case the preside

Free access — add to your briefcase to read the full text and ask questions with AI

35-17-312 . Officers -- election -- bank as treasurer. (1) The directors shall elect from their number a president and one or more vice presidents. They shall also elect a secretary and treasurer who need not be directors, and they may combine the two latter offices and designate the combined office as secretary-treasurer. The treasurer may be a bank or any depositary, in which case it may not be considered an officer but instead a function of the board of directors, and the secretary shall perform the usual accounting duties of the treasurer, except that the funds must be deposited only as authorized by the board of directors.
(2) (a) If the bylaws provide, the directors may also elect from their number a presiding officer and one or more vice presiding officers, in which case the president and vice presidents need not be directors or stockholders.
(b) Any other officer may be chosen as provided in the bylaws.

Montana § 35-17-312 (Officers -- Election -- Bank As Treasurer) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.