New Jersey Statutes
§ 48:24-12 — Board of directors.
New Jersey·Title 48 PUBLIC UTILITIES
12.
a.The business and affairs of a rural electric cooperative shall be managed under the direction of a board of not less than three directors who shall be natural persons of full age. All directors shall be members of the cooperative.
b.Any vacancy occurring in the board of directors of the cooperative shall be filled by the remaining directors in accordance with the bylaws of the cooperative. L.2017, c.297, s.12.
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Nearby Sections
15
§ 48:24-1
Short title.§ 48:24-10
Liability for, payment of debts.§ 48:24-11
Certificate of membership.§ 48:24-12
Board of directors.§ 48:24-13
Meetings.§ 48:24-14
Quorum.§ 48:24-15
Voting.§ 48:24-16
Operating expenses; revenues.§ 48:24-17
Merger, consolidation, division.§ 48:24-18
Dissolution.§ 48:24-19
Security of borrowed money.§ 48:24-4
Articles of incorporation.§ 48:24-6
Liberal construction.