Current through the 2024 Fourth Special Session
Section 16-16-817 - Committees(1) Unless the organic rules otherwise provide, a board of directors may create one or more committees and appoint one or more individuals to serve on a committee.(2) Unless the organic rules otherwise provide, an individual appointed to serve on a committee of a limited cooperative association need not be a director or member.(3) An individual who is not a director and is serving on a committee has the same rights, duties, and obligations as a director serving on the committee.(4) Unless the organic rules otherwise provide, each committee of a limited cooperative association may exercise the powers delegated to it by the board of directors, but a committee may not: (a) approve allocations or distributions except according to a formula or method prescribed by the board of directors;(b) approve or propose to members action requiring approval of members; or(c) fill vacancies on the board of directors or any of its committees.Enacted by Chapter 363, 2008 General Session.