Ark. Code Ann. § 23-35-303: Board of directors and committees generally

(a) The business affairs of the credit union shall be managed by a board of directors of not fewer than five (5) directors, a credit committee of not fewer than three (3) members, and a supervisory committee of not fewer than three (3) members, all to be elected at the annual members' meeting by and from the members.

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