501.401 - NUMBER AND ELECTION.
501.401 NUMBER AND ELECTION. 1. The affairs of a cooperative shall be managed by a board of not less than three directors. 2. The members shall elect the directors as prescribed in the articles or bylaws. 3. Each director shall serve the term prescribed in the articles or bylaws. The terms may be staggered.Section History: Recent Form
96 Acts, ch 1010, §22