Montana § 32-3-403 Election Or Appointment Of Officials

Montana Statutes

§ 32-3-403 — Election Or Appointment Of Officials

Montana § 32-3-403

Title 32FINANCIAL INSTITUTIONS

Ch. 3CREDIT UNIONS

Part 4Operation and Officers

This text of Montana § 32-3-403 (Election Or Appointment Of Officials) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 32-3-403 (2026).

Text

32-3-403 . Election or appointment of officials.

(1)The credit union must be directed by a board, consisting of an odd number of at least five directors, to be elected at the annual membership meeting by and from the members. All members of the board shall hold office for terms that the bylaws provide.

(2)The board of directors shall appoint a supervisory committee of at least three members during the organizational meeting. Subsequent appointments must be within 30 days after each annual meeting of the members for terms that the bylaws provide. The bylaws may provide that the board of directors of the credit union serves as the supervisory committee. The duties and powers of the supervisory committee must be established by the department of administration by rule.

(3)The bylaws must pr

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

32-3-403 . Election or appointment of officials. (1) The credit union must be directed by a board, consisting of an odd number of at least five directors, to be elected at the annual membership meeting by and from the members. All members of the board shall hold office for terms that the bylaws provide.
(2) The board of directors shall appoint a supervisory committee of at least three members during the organizational meeting. Subsequent appointments must be within 30 days after each annual meeting of the members for terms that the bylaws provide. The bylaws may provide that the board of directors of the credit union serves as the supervisory committee. The duties and powers of the supervisory committee must be established by the department of administration by rule.
(3) The bylaws must provide for either:
(a) a credit committee, to be either appointed by the board of directors or elected by the members; or
(b) a credit manager, to be appointed by the board of directors.
(4) If the bylaws provide for a credit committee, the committee must consist of an odd number of at least three members, who shall serve for terms that the bylaws provide. The bylaws must specify the number of members of the credit committee and the number of credit committee members needed for a quorum.

Legislative History

En. 14-622 by Sec. 22, Ch. 38, L. 1975; R.C.M. 1947, 14-622; amd. Sec. 4, Ch. 522, L. 1985; amd. Sec. 3, Ch. 25, L. 2001; amd. Sec. 22, Ch. 237, L. 2003; amd. Sec. 6, Ch. 317, L. 2015.