2005 Vermont Code - § 2058. — Board of directors, credit, supervisory and education committees

§ 2058. Board of directors, credit, supervisory and education committees

(a) The affairs of a credit union shall be managed by a board of not less than five directors and a credit committee of not less than three members, all to be elected at the annual members' meeting by and from the members. An education committee of not less than three members may also be elected. A supervisory committee of at least three members shall be appointed by the board. Any vacancy occurring in the supervisory committee shall be filled in the same manner as original appointments to the committee. No member of the board shall be a member of any committee, nor shall one person be a member of more than one of those committees.

(b) All members of the board and of those committees shall hold office for such terms, respectively, as the bylaws may provide. (Added 1967, No. 312 (Adj. Sess.), § 1, eff. March 22, 1968; amended 1983, No. 227 (Adj. Sess.), § 3.)