35-19-307. Board of trustees -- number -- qualifications -- removal -- compensation -- joint memberships. (1) The business and affairs of a buying cooperative must be managed by or under the direction of a board of not less than five trustees, each of whom must be a member of the buying cooperative. The bylaws must prescribe the number of trustees and their qualifications, other than those provided for in this chapter, and the manner of holding meetings of the board of trustees and of the election of successors to trustees who resign, die, or are otherwise incapable of acting. The bylaws may also provide for the removal of trustees from office and for the election of their successors.
     (2) Without approval of the membership, trustees:
     (a) may not receive any salaries for their services as trustees, except trustees may receive the same insurance coverage provided to buying cooperative employees; and
     (b) except in emergencies, may not be employed by the buying cooperative in a capacity involving compensation.
     (3) The bylaws may provide that the board of trustees may establish a fixed sum, including expenses of attendance, if any, to be allowed for:
     (a) attendance at each meeting of the board of trustees or any committee of the board of trustees; or
     (b) representing the buying cooperative at a meeting or on business whenever representation has been approved by the board.
     (4) If two or more persons hold a joint membership in a buying cooperative, one person, but not more than one person, from a joint membership may be elected a trustee.
     (5) The policies of the buying cooperative may provide that benefits provided to employees may be extended to trustees.

     History: En. Sec. 18, Ch. 575, L. 1999.