New Hampshire § 383-E:5-503 Terms of Directors and Officials

New Hampshire Statutes

§ 383-E:5-503 — Terms of Directors and Officials

New Hampshire § 383-E:5-503

Title XXXVBANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS

Ch. 383-ECREDIT UNION ACT

SubdivisionARTICLE 5Directors and Officers

This text of New Hampshire § 383-E:5-503 (Terms of Directors and Officials) is published on Counsel Stack Legal Research, covering New Hampshire primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.H. Rev. Stat. Ann. § 383-E:5-503 (2026).

Text

Directors and supervisory committee members shall be elected for a term of not less than one year nor more than 3 years, as provided in the bylaws. If the term of the directors or supervisory committee members or both is more than one year, the directors or supervisory committee members or both shall be divided into classes, each class to be as equal in number as possible, and one class of directors or supervisory committee members or both shall be elected each year. Except as provided in RSA 383-E:5-504, directors and supervisory committee members shall hold their several offices until others are elected and qualified in their stead. The members of the credit committee shall be appointed for a term not to exceed one year.

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Directors and supervisory committee members shall be elected for a term of not less than one year nor more than 3 years, as provided in the bylaws. If the term of the directors or supervisory committee members or both is more than one year, the directors or supervisory committee members or both shall be divided into classes, each class to be as equal in number as possible, and one class of directors or supervisory committee members or both shall be elected each year. Except as provided in RSA 383-E:5-504, directors and supervisory committee members shall hold their several offices until others are elected and qualified in their stead. The members of the credit committee shall be appointed for a term not to exceed one year.