At the annual meeting the credit union shall elect a board of directors of not less than five members and may elect a credit committee of not less than three members, all to hold office for the terms provided in the bylaws and until successors qualify. The credit union must have a supervisory committee. Pursuant to its bylaws, the credit union may elect a supervisory committee of not less than three members nor more than five members, or the board of directors may appoint the supervisory committee. Some or all of the terms of office may be staggered, as provided in the bylaws. A record of the names and addresses of the members of the board and committees and the officers shall be filed with the commissioner of commerce within ten days of their election. A full-time manager of a credit union may be a director of a credit union operating under this chapter.
The organization meeting shall be the first annual meeting.
(7774-8) 1925 c 206 s 8; 1961 c 331 s 5; 1965 c 724 s 1; 1982 c 429 s 2; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1988 c 597 s 1; 1991 c 42 s 3
Structure Minnesota Statutes
Section 52.02 — Resolutions, Amendment Of Bylaws And Certificate Of Organization, Approval.
Section 52.03 — "credit Union," Unlawful Use.
Section 52.06 — Supervision; Reports; Audits; Fees.
Section 52.062 — Credit Unions; Suspension Of Operation.
Section 52.064 — Receivership.
Section 52.07 — Fiscal Year; Meetings; Voting.
Section 52.08 — Annual Meeting.
Section 52.09 — Directors; Powers And Duties.
Section 52.10 — Credit Committee; Credit Manager; Powers.
Section 52.11 — Supervisory Committee; Duties.
Section 52.12 — Capital; Entrance Fees; Credit Union To Have Lien.
Section 52.13 — Deposits In Name Of Minor.
Section 52.131 — Multiparty Accounts.
Section 52.137 — Individual Retirement Accounts.
Section 52.14 — Interest On Loans.
Section 52.141 — Loan Expenses.
Section 52.15 — Borrowing; Limitation.
Section 52.16 — Lending; Conditions.
Section 52.165 — Graduated Payment Home Loan.
Section 52.19 — Expulsion Or Withdrawal Of Members.
Section 52.191 — Inactive Accounts.
Section 52.20 — Voluntary Dissolution.
Section 52.201 — Reorganizing Federal Credit Union Into State Credit Union.
Section 52.202 — Directors May Execute Certificates.
Section 52.203 — Merger Or Consolidation.
Section 52.21 — Change Of Place Of Business.
Section 52.211 — Student Education Programs.