678.350 - Board of directors: Number, election and terms of members; procedure for filling vacancy. - Nevada Statutes

678.350  Board of directors: Number, election and terms of members; procedure for filling vacancy.

      1.  The business affairs of a credit union shall be directed by an odd-numbered board of not fewer than five directors to be elected at the annual meetings by and from the members, and an audit and credit committee if appointed by the board. The persons designated in the articles of incorporation shall be the first directors.

      2.  All members of the board and such committees shall hold office for such terms as the bylaws may provide.

      3.  Vacancies in the board of directors shall be filled by vote of the members at the annual meeting or at a special meeting called for that purpose. The board may fill any vacancies occurring in the board until successors elected at the annual meeting or special meeting have qualified. The board shall also fill vacancies in the credit and audit committees.

      (Added to NRS by 1975, 380)