The Arizona Revised Statutes have been updated to include the revised sections from the 55th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 55th Legislature, 2nd Regular Session, which convenes in January 2022.
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
A. At the organization meeting held within thirty days after each annual election, the board of directors shall elect from its own number a chairman of the board, a vice-chairman, a secretary and a treasurer. They shall also elect any other officers that are provided for in the bylaws.
B. The terms of the officers are one year, or until their successors are chosen and have been duly qualified. The duties of the officers shall be prescribed in the bylaws.
C. The board of directors shall appoint a president to act as the chief executive officer of the credit union and to be in charge of its operations. The president may be a director.
D. Notwithstanding any other provision of this chapter, a credit union may use any title it provides in its bylaws for the officials holding the positions described in this article as long as the titles are not misleading.