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The Vermont Statutes Online



Title

11

:
Corporations, Partnerships and Associations






Chapter

007

:
COOPERATIVES






Subchapter

002
:
THE COOPERATIVE MARKETING ACT










 

§

1013. Officers

The directors

shall elect from their number a president and one or more vice-presidents. They

shall also elect a secretary, who shall be the clerk of the corporation, and a

treasurer, who need not be directors or members of the association. The

directors may combine the two latter offices and designate the combined office

as that of secretary-treasurer, or unite both functions and titles in one

person. The treasurer may be a bank or any depository, and as such, shall not

be considered as an officer, but as a function of the board of directors, and

in such case, the secretary shall perform the usual accounting duties of the

treasurer, except that the funds shall be deposited only as and where

authorized by the board of directors.