35-19-308. Trustees -- term -- quorum -- powers. (1) The trustees of a buying cooperative named in articles of incorporation shall hold office until the next following 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 shall hold office for the term for which that trustee is elected or until the trustee's successor has been elected and qualified.
     (2) A majority of the board of trustees constitutes a quorum.
     (3) The board of trustees may exercise all of the powers of a buying cooperative, except those powers that are conferred upon the members by this chapter or by its articles of incorporation or bylaws.

     History: En. Sec. 19, Ch. 575, L. 1999.