§ 10-15-29 — Officers

North Dakota § 10-15-29

• Jurisdiction: North Dakota
• Title 10: Corporations
• Ch. 10-15: Cooperative Associations

Text

1. The principal officers of a cooperative are a president, one or more vice presidents and
a treasurer as prescribed in the bylaws, and a secretary. They shall be elected
annually by the board at such time and in such manner as the bylaws provide. Each
principal officer except the secretary and the treasurer must be a director of the
cooperative. The offices of secretary and treasurer may be combined in one person. If
the bylaws provide, the board of directors may also elect from its number a chairman
and one or more vice chairmen, in which case the president and vice presidents need
not be directors or stockholders.
2. Any other officer may be chosen by the board or as provided in the bylaws.
3. All officers shall have such authority and perform such duties as the bylaws provide or
as the board may determine not inconsistent with the bylaws. Any officer may be
removed by the board whenever in its judgment the best interests of the cooperative
will be served thereby. Election or appointment shall not of itself create contract rights.