SECTIONS 14500-14502 - California Statutes

FINANCIAL CODE

SECTION 14500-14502

14500. (a) The officers of every credit union shall include a
chairman or president, one or more vice chairmen or vice presidents,
a secretary and a treasurer or chief financial officer.
(b) The officers of any credit union may include other officers
with titles and duties specified in the bylaws or determined by
resolution of the board as may be necessary for the conduct of its
affairs. The president, or if there is no president, the chairman of
the board, is the general manager and chief executive officer of the
credit union, unless otherwise provided in the bylaws.
(c) Except as otherwise provided in a credit union's bylaws,
officers, other than those officers elected pursuant to Section 14454
and required pursuant to subdivision (a), shall be chosen by the
board and serve at the pleasure of the board, subject to the rights,
if any, of an officer under any contract of employment. Any officer
may resign at any time upon written notice to the corporation without
prejudice to the rights, if any, of the corporation under any
contract or obligation with the credit union to which the officer is
a party. An officer other than those officers required pursuant to
subdivision (a), may, but need not be, a director of the credit
union.

14501. If the bylaws so provide, the directors may elect the same
person as secretary and treasurer or chief financial officer.

14502. The powers and duties of the officers of any credit union
required pursuant to subdivision (a) of Section 14500 are as
prescribed in the bylaws.