Iowa Code 501.401 – Number and election
Current as of: 2023 | Check for updates
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1. The affairs of a cooperative shall be managed by a board of not less than three directors.
Terms Used In Iowa Code 501.401
- Articles: means the cooperative's articles of association. See Iowa Code 501.101
- Board: means the cooperative's board of directors. See Iowa Code 501.101
- Cooperative: means a cooperative association organized under this chapter or converted to this chapter pursuant to section 501. See Iowa Code 501.101
2. The members shall elect the directors as prescribed in the articles or bylaws.
3. Each director shall serve the term prescribed in the articles or bylaws. The terms may be staggered.