(a) If the bylaws provide, the board may elect an executive committee consisting of three or more directors which, to the extent provided in the bylaws of the cooperative, may exercise all the authority of the board in the management of the cooperative, except for
(1) apportionment or distribution of net proceeds, savings or losses;
(2) selection of officers;
(3) filling of vacancies in the board or the executive committee.
(b) The board may elect other directors as alternates for members of the executive committee.
(c) Designation of an executive committee and the delegation to it of authority does not relieve the board or a member of the board of any responsibility imposed by law.
Section: Previous 10.15.135 10.15.140 10.15.145 10.15.150 10.15.155 10.15.160 10.15.165 10.15.170 10.15.175 10.15.180 10.15.185 10.15.190 10.15.195 10.15.200 10.15.205 NextLast modified: November 15, 2016