Board of directors as manager of cooperative--Qualifications of directors.

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  5. Board of directors as manager of cooperative--Qualifications of directors.

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47-17-1. Board of directors as manager of cooperative--Qualifications of directors.

The business and affairs of a cooperative shall be managed by a board of directors. Each director shall be a member or a representative of a member who is an entity member. The bylaws shall prescribe any other qualifications for directors and may provide that directors be from specified territorial districts.

Source: SDC 1939, §11.1123 (1) as enacted by SL 1965, ch 23, §1; SL 2018, ch 260, §8.


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