OFFICERS.

308A.401 OFFICERS. § Subdivision 1.Required officers. (a) The board shall elect: (1) a president; (2) one or more vice-presidents; (3) a secretary; and (4) a treasurer. (b) The board may elect additional officers as the articles or bylaws authorize or require. § Subd. 2.Secretary and treasurer may be combined. The offices of secretary and treasurer may be combined and if combined the person filling the office shall be termed secretary-treasurer. § Subd. 3.Chair and vice-chair. If the bylaws provide, the board may elect directors as a chair and one or more vice-chairs. § Subd. 4.Officers that must be stockholders. The president and vice-president must be directors and members unless the articles or bylaws provide for a chair and one or more vice-chairs and the articles or bylaws do not require otherwise. The treasurer, secretary, and additional officers need not be directors or members. § Subd. 5.Removal of officers. Members may remove an officer at a members' meeting for cause related to the duties of the position of the officer and fill the vacancy caused by the removal. History: 1989 c 144 art 1 s 24; art 3 s 18