(a) 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 officers shall be elected annually by the board at the time and in the manner the bylaws provide. The offices of secretary and treasurer may be combined in one person. Each principal officer except the secretary and the treasurer, and one of the vice presidents if the bylaws provide for more than one, shall be a director of the cooperative. The manager of a cooperative may hold the office of vice president if more than one vice president is provided for in the bylaws.
(b) Other officers may be chosen by the board.
(c) Officers have the authority and shall perform the duties the bylaws provide, or as the board determines, not inconsistent with the bylaws. Any officer may be removed by the board whenever in its judgment the best interests of the cooperative will be served by removal. Election or appointment of an officer does not of itself create contract rights.
Structure Alaska Statutes
Title 10. Corporations and Associations
Chapter 15. Alaska Cooperative Corporation Act
Article 1. Substantive Provisions.
Sec. 10.15.005. Purposes for which cooperatives may be organized.
Sec. 10.15.010. General powers.
Sec. 10.15.025. Registered office and registered agent.
Sec. 10.15.030. Change of registered office or agent.
Sec. 10.15.035. Service on agent is service on cooperative.
Sec. 10.15.040. Defense of ultra vires.
Sec. 10.15.045. Capital stock.
Sec. 10.15.050. Membership stock.
Sec. 10.15.055. Transfer of stock.
Sec. 10.15.060. Payment required for issuance.
Sec. 10.15.065. No preemptive right to new issues.
Sec. 10.15.070. Certificates representing shares.
Sec. 10.15.075. Manner of voting by shareholders.
Sec. 10.15.080. Determining who are shareholders for purposes of notice, voting, and dividends.
Sec. 10.15.085. Subscription for shares.
Sec. 10.15.090. Limitation of liability of members.
Sec. 10.15.095. Dividends on capital stock.
Sec. 10.15.105. Limitations on acquisition, recall, exchange, or redemption.
Sec. 10.15.110. Status of acquired, recalled, exchanged, or redeemed shares.
Sec. 10.15.115. Missing certificates or ownership records.
Sec. 10.15.120. Meetings of members.
Sec. 10.15.125. Districts and district meetings.
Sec. 10.15.130. Voting by members.
Sec. 10.15.135. Quorum of members.
Sec. 10.15.140. Qualifications and membership of board of directors.
Sec. 10.15.145. Initial board of directors.
Sec. 10.15.150. Election and terms of directors.
Sec. 10.15.155. Removal of directors.
Sec. 10.15.160. Filling unexpired term.
Sec. 10.15.165. Meetings of board of directors.
Sec. 10.15.170. Executive committee.
Sec. 10.15.180. Compensation and benefits to directors, officers, and employees.
Sec. 10.15.185. Taking action without meeting.
Sec. 10.15.190. Waiver of notice.
Sec. 10.15.195. Voting requirements of articles.
Sec. 10.15.205. Allowance of costs to plaintiff; accounting for proceeds.
Sec. 10.15.210. Security for costs.
Sec. 10.15.215. Permitted purposes of cooperative contracts with members.
Sec. 10.15.220. Liquidated damages clause in cooperative contracts.
Sec. 10.15.225. Contracts between two or more cooperatives.
Sec. 10.15.230. Recording of cooperative contracts.
Sec. 10.15.235. Recording of uniform cooperative contracts.
Sec. 10.15.240. Recording procedure.
Sec. 10.15.245. Fees for recording contracts.
Sec. 10.15.250. Effect of recording contract; subsequent interests and liens.
Sec. 10.15.255. Termination of recorded contract.
Sec. 10.15.260. Recording of list of terminated contracts.
Sec. 10.15.265. Relief against breach or threatened breach of contract and penalty for interference.
Sec. 10.15.275. Apportionment and distribution of net proceeds, savings, or net losses.
Sec. 10.15.280. Manner of payment.
Sec. 10.15.285. Manner of apportionment and distribution.
Sec. 10.15.290. Determination of net proceeds, savings, or losses.
Sec. 10.15.295. Unclaimed distribution, redemptions, or payments.
Sec. 10.15.300. Sale or other disposition of entire assets in regular course of business.
Sec. 10.15.305. Sale or other disposition of entire assets not in regular course of business.
Sec. 10.15.310. Abandonment of sale or other disposition.
Sec. 10.15.315. Books and records; inspection.
Sec. 10.15.320. Biennial report.
Sec. 10.15.325. Form of biennial report; delinquent reports.
Sec. 10.15.330. Acceptance of biennial reports by department.
Sec. 10.15.331. Filing notice of change of officer or director.