Principal officers of cooperative--Election by board of directors

The principal officers of a cooperative are a president, one or more vice-presidents as prescribed in the bylaws, a secretary, and a treasurer. The principal officers shall be elected annually by the board of directors at a time and manner pursuant to the bylaws. Each principal officer except the secretary and the treasurer shall be a director of the cooperative. The offices of secretary and treasurer may be combined in one individual. Source: SDC 1939, § 11.1127 (1) as enacted by SL 1965, ch 23 , § 1; SL 2018, ch 260 , § 10.