10-2059. Officers of cooperative

The officers of a cooperative shall consist of a president, vice-president, secretary and treasurer, who shall be elected annually by and from the board of directors.  If stated in the bylaws, the officers of the cooperative do not have to be directors.  Unless the bylaws provide otherwise, if a person holding any office ceases to be a director the person shall cease to hold the office.  The offices of secretary and treasurer may be held by the same person.  The board of directors may also elect or appoint all other officers, agents or employees it deems necessary or advisable and shall prescribe their powers and duties.  An officer may be removed from office and his successor may be elected in the manner prescribed in the bylaws.