2019 US Virgin Islands Code
Title 13 - Corporations and Associations
Chapter 7 - Cooperative Corporations
§ 569. Management of corporation by board; election of directors; term of office; removal
Universal Citation: V.I. Code tit. 13, § 569 (2019)
- Every cooperative corporation shall be managed by a board of directors. The directors shall be elected by the shareholders at such time and for such terms not exceeding three years as the bylaws may prescribe, and shall hold office until their successors are elected and enter upon the discharge of their duties.
- A majority of all the shareholders, at any regular or special meeting duly called, may remove any director for cause, and fill the vacancy.
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