Montana Code 35-18-312. Trustees — term — quorum — powers
35-18-312. Trustees — term — quorum — powers. (1) The trustees of a cooperative named in any articles of incorporation, consolidation, merger, or conversion hold office until the next annual meeting of the members or until their successors have been elected and qualified. At each annual meeting or, in case of failure to hold the annual meeting as specified in the bylaws, at a special meeting called for that purpose, the members shall elect trustees who may serve for 1-, 2-, or 3-year terms. Each trustee holds office for the term for which the trustee is elected or until a successor is elected and qualified.
Terms Used In Montana Code 35-18-312
- articles of incorporation: as used in this chapter includes the articles of conversion of a converted corporation. See Montana Code 35-18-206
- Cooperative: means a corporation organized under this chapter or a corporation that becomes subject to the provisions of this chapter. See Montana Code 35-18-102
- Quorum: The number of legislators that must be present to do business.
- Trustee: A person or institution holding and administering property in trust.
(2)A majority of the board of trustees constitutes a quorum.
(3)The board of trustees may exercise all of the powers of a cooperative, except powers that are conferred upon the members by this chapter or its articles of incorporation or bylaws.