KRS 286.6-155: Board of directors -- Supervisory committee -- Simultaneous

appointments prohibited.

(1) The credit union shall be directed by a board consisting of an odd number of

directors, at least five (5) in number, to be elected at the annual members' meetin g

by and from the members. All members of the board shall hold office for such terms

as the bylaws provide.

(2) The board of directors shall appoint a supervisory committee of not less than three

(3) persons at the organization meeting held within thirty ( 30) days following each

annual meeting of the members for such terms as the bylaws provide. No member

of the board of directors shall be appointed to the supervisory committee.

(3) The board of directors shall appoint a credit committee consisting of an od d

number, not less than three (3), for such terms as the bylaws provide, or in lieu of a

credit committee, a credit manager.