§ 60. Directors; terms; election; duties. Except as otherwise provided in this chapter, the board of directors shall be divided, as nearly equally as practicable, into three classes. At the first annual meeting, the members shall elect from among themselves a director or directors of the first class for a term of one year; of […]
§ 61. Directors from districts. The by-laws may provide for the use of one or more of the following: (a) that the territory in which the corporation has members shall be divided into designated districts, and that directors shall be nominated or elected therefrom in a designated number and manner, either by the members therein […]
§ 62. Salaries. The corporation may provide a fair remuneration for its officers and directors and for members of its executive committee. No officer or director or member of the executive committee shall be a party to a contract for profit with the corporation which in substance shall differ in any way from similar contracts […]
§ 63. Removal of directors. Any member may bring charges against a director by filing them in writing with the secretary, together with a petition signed by five per centum of the members, requesting removal. The corporation may thereupon remove the director by the affirmative vote of three-fourths of the members voting thereon at a […]
§ 64. Officers. The officers of every corporation shall include a president, one or more vice-presidents, secretary and treasurer who shall be elected annually by the board of directors. The president and a first vice-president shall be members of the corporation or of a member corporation, and shall be elected from among the directors. Other […]
§ 65. Officers and employees to be bonded. Before handling funds or securities of the corporation, amounting to one thousand dollars or more in any one year, the officer or employee shall be covered by an adequate bond to be approved by the board of directors.
