H.P. 770 - L.D. 1093
An Act to Provide Farm Cooperatives More Flexibility in Establishing Officers and Using Titles for Various Officers
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 13 MRSA §1873 is amended to read:
The board shall elect a president, a secretary and a treasurer, and may elect one or more vice-presidents, and such other one or more officers as may be authorized in the bylaws. The president and at least one of the vice-presidents must be members and directors, but a vice-president who is not a director cannot succeed to or fill the office of president. Any 2 of the offices of vice-president, secretary and treasurer may be combined in one person. The bylaws of each cooperative must provide for one or more officers, including the qualifications for and the titles of those officers.
Effective September 18, 1999, unless otherwise indicated.
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