Arizona Laws 6-531. Authority and responsibility of directors; voting
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A. The board of directors has the authority and responsibility for directing the business affairs, monies and records of the credit union.
Terms Used In Arizona Laws 6-531
- Credit union: means a cooperative nonprofit association that is incorporated under this chapter for the purposes of encouraging thrift among its members and creating a source of credit and other financial services at fair and reasonable cost. See Arizona Laws 6-501
B. Except as provided in section 6-543, directors may not vote by proxy, absentee ballot or mail ballot but may vote by telephone conference if all directors present can speak to and be heard by the other directors during the telephone conference.
C. The board of directors shall meet at least ten times during each calendar year in ten different months.