Current with changes from the 2024 Legislative Session
Section 5-5A-12 - Management of cooperative; number and qualifications of directors(a) The business and affairs of a cooperative shall be managed under the direction of a board of directors. Every cooperative shall have at least 5 directors.(b) Except in the case of foreign cooperatives, at least 2 of the directors shall be residents of this State.(c) Each director shall be a member of the cooperative or of a member cooperative.