§ 19-5-9 - Appointments and terms of supervisory committee members. - Rhode Island Statutes

SECTION 19-5-9

   § 19-5-9  Appointments and terms ofsupervisory committee members. – (a) The board of directors shall appoint, or the membership shall elect,qualified members to a supervisory committee consisting of no fewer than three(3) members nor more than five (5) members. The director or the director'sdesignee shall issue guidelines defining a "qualified" supervisory committeemember. No officers, directors, or employees of the credit union, or immediatefamily members thereof, shall be members of the supervisory committee.

   (b) Members of the supervisory committee shall be appointedby the board of directors or elected by the membership for no fewer than onenor more than three (3) years, as the by-laws provide. An equal number ofmembers, as nearly as may be, shall be appointed or elected each year.