{"data":{"id":"us-ky/krs-279.380","jurisdiction":"us-ky","citation":"KRS 279.380","heading":"Board of trustees -- Officers.","body":"(1) The business of a cooperative shall be managed by a board of not less than five (5)\ntrustees, each of whom shall be a member of the cooperative, or of another\ncooperative which is a member thereof. The bylaws shall prescribe the number of\ntrustees, their qualifications, other than those prescribed in this section, the manner\nof holding meetings of the board of trustees and of electing successors to trustees\nwho shall resign, die, or otherwise be incapable of acting. The bylaws may also\nprovide for the remov al of trustees from office and for the election of their\nsuccessors. Trustees shall not receive any salaries for their services as trustees and,\nexcept in emergencies, shall not receive any salaries for their services in any other\ncapacity without the approval of the members. The bylaws may, however, prescribe\na fixed fee for attendance at each meeting of the board of trustees and may provide\nfor reimbursement of actual expenses of attendance.\n(2) The trustees of a cooperative named in any articles of incor poration, consolidation,\nmerger, conversion or combined consolidation and conversion shall hold office\nuntil the next annual meeting of the members and until their successors are elected\nand qualify. At each annual meeting or, in case of failure to hold the annual meeting\nas specified in the bylaws, at a special meeting called for that purpose, the members\nshall elect trustees to hold office until the next annual meeting of the members,\nexcept as otherwise provided in KRS 279.310 to 279.600. The trustees so  elected\nshall be elected in a manner to insure secrecy and anonymity of ballots cast\nprovided the result of such election is determined by ballot vote. Each trustee shall\nhold office for the term for which he is elected and until his successor is elected and\nqualifies.\n(3) Instead of electing all the trustees annually, the bylaws may provide that one -third\n(1/3) of them, or a number as near thereto as possible, shall be elected annually for a\nterm of three (3) years.\n(4) A majority of the board of trustees shall constitute a quorum.\n(5) The board of trustees may exercise all of the powers of a cooperative not conferred\nupon the members by KRS 279.310 to 279.600, or its articles of incorporation or\nbylaws.\n(6) The officers of a cooperative shall consist of a  president, vice president, secretary\nand treasurer, who shall be elected annually by and from the board of trustees.\nWhen a person holding any such office ceases to be a trustee he shall cease to hold\nsuch office. The office of secretary and of treasurer may be held by the same person.\nThe board of trustees may also elect or appoint such other officers, agents, or\nemployees as it deems necessary or advisable and shall prescribe their powers and\nduties. Any officer may be removed from office and his success or elected in the\nmanner prescribed in the bylaws.","path":["KRS Chapter 279"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=14214","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:31Z","sha256":"04d8491d3fd9a448610db4e40d75e2de239aeff36f1e4ae81233763113a649f3","source_id":"us-ky","stale":false,"prev":"us-ky/krs-279.370","next":"us-ky/krs-279.390"},"notice":"GroundRules: Original legal text. Not legal advice."}