22-2612. DIRECTORS — ELECTION — APPOINTMENT — REMUNERATION — PROHIBITED CONTRACTS — VACANCIES. The affairs of the association shall be managed by a board of not less than five (5) directors, elected by the members or stockholders from their own number. The bylaws may provide that the territory in which the association has members shall be divided into districts and that the directors shall be elected according to such districts. In such a case the bylaws shall specify the number of directors to be elected by each district, the manner and method of reapportioning the directors and of redistricting the territory covered by the association. The bylaws may provide that primary elections should be held in each district to elect the directors apportioned to such districts and the result of all such primary elections must be ratified by the next regular meeting of the association.
The bylaws may provide that one or more directors may be appointed by the department of agriculture or any other public official or commission. The director or directors so appointed need not be members or stockholders of the association, but shall have the same powers and rights as other directors.
An association may provide a fair remuneration for the time actually spent by its officers and directors in its service. No director, during the term of his office, shall be a party to a contract for a profit with the association differing in any way from the business relations accorded regular members or holders of common stock of the association, or to any other kind of contract differing from terms generally current in that district.
When a vacancy on the board of directors occurs, other than by expiration of term, the remaining members of the board, by a majority vote, shall fill the vacancy, unless the bylaws provide for an election of directors by district. [In] such a case the board of directors shall immediately call a special meeting of the members or stockholders in that district to fill the vacancy.
History:
[(22-2612) 1921, ch. 124, sec. 12, p. 298; I.C.A., sec. 22-2012.]
Structure Idaho Code
Title 22 - AGRICULTURE AND HORTICULTURE
Chapter 26 - COOPERATIVE MARKETING ASSOCIATIONS
Section 22-2601 - DECLARATION OF POLICY.
Section 22-2602 - DEFINITIONS — SHORT TITLE.
Section 22-2603 - ASSOCIATIONS — WHO MAY ORGANIZE.
Section 22-2605 - PRELIMINARY INVESTIGATION.
Section 22-2608 - ARTICLES OF INCORPORATION — CONTENTS — SUBSCRIBING AND FILING.
Section 22-2609 - ARTICLES OF INCORPORATION — AMENDMENT.
Section 22-2610 - BYLAWS — ADOPTION — CONTENTS — AMENDMENT.
Section 22-2611 - GENERAL AND SPECIAL MEETINGS — HOW CALLED.
Section 22-2613 - ELECTION OF OFFICERS.
Section 22-2615 - REMOVAL OF OFFICER OR DIRECTOR.
Section 22-2617 - MARKETING CONTRACT.
Section 22-2620 - CONFLICTING LAWS NOT TO APPLY.
Section 22-2621 - INTEREST IN OTHER CORPORATIONS OR ASSOCIATIONS.
Section 22-2622 - CONTRACTS AND AGREEMENTS WITH OTHER ASSOCIATIONS.
Section 22-2622A - CONSOLIDATION AND MERGER AGREEMENTS — VOTING REQUIREMENTS.
Section 22-2623 - ASSOCIATION HERETOFORE ORGANIZED MAY ADOPT PROVISIONS OF CHAPTER.
Section 22-2625 - SEPARABILITY.