Kentucky Statutes 286.6-205 – Officers of board
Current as of: 2024 | Check for updates
|
Other versions
(1) At their organization meeting held within thirty (30) days following each annual meeting of the members, the directors shall elect from their own number a chairman of the board, one (1) or more vice chairmen, a treasurer, and a secretary. The treasurer and the secretary may be the same individual.
(2) The terms of the officers shall be one (1) year, or until their successors are chosen and have duly qualified.
(3) The duties of the officers shall be prescribed in the bylaws.
(4) The board of directors shall appoint a president to act as general manager of the credit union and be in active charge of its operations.
Effective: July 13, 1984
History: Created 1984 Ky. Acts ch. 408, sec. 21, effective July 13, 1984.
Formerly codified as KRS § 290.205.
Legislative Research Commission Note (7/12/2006). In accordance with 2006 Ky. Acts ch. 247, secs. 38 and 39, this statute has been renumbered as a section of the Kentucky Financial Services Code, KRS Chapter 286.
(2) The terms of the officers shall be one (1) year, or until their successors are chosen and have duly qualified.
Terms Used In Kentucky Statutes 286.6-205
- Credit union: means a cooperative, nonprofit association, incorporated under this subtitle, for the purposes of encouraging thrift among its members, creating a source of credit at a fair and reasonable rate of interest, and providing an opportunity for its members to use and control their own money on a democratic basis in order to improve their economic and social condition. See Kentucky Statutes 286.6-005
- Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
- Statute: A law passed by a legislature.
- Year: means calendar year. See Kentucky Statutes 446.010
(3) The duties of the officers shall be prescribed in the bylaws.
(4) The board of directors shall appoint a president to act as general manager of the credit union and be in active charge of its operations.
Effective: July 13, 1984
History: Created 1984 Ky. Acts ch. 408, sec. 21, effective July 13, 1984.
Formerly codified as KRS § 290.205.
Legislative Research Commission Note (7/12/2006). In accordance with 2006 Ky. Acts ch. 247, secs. 38 and 39, this statute has been renumbered as a section of the Kentucky Financial Services Code, KRS Chapter 286.