(a) The business affairs of the credit union shall be managed by a board of directors of not fewer than five (5) directors, a credit committee of not fewer than three (3) members, and a supervisory committee of not fewer than three (3) members, all to be elected at the annual members' meeting by and from the members.
(b) All members of the board and of the committees shall hold office for such terms as the bylaws may provide.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 2 - Financial Institutions And Securities
§ 23-35-301. Procedure for obtaining charter
§ 23-35-302. Amendments to articles of incorporation and bylaws
§ 23-35-303. Board of directors and committees generally
§ 23-35-304. Duties of board of directors
§ 23-35-305. Officers — Selection, term, and oath
§ 23-35-306. Credit committee — Loan officers
§ 23-35-307. Supervisory committee
§ 23-35-308. Compensation of officers, directors, committee members, and employees