Vermont § 31301 - Number and election of directors
Full text of Vermont Vermont Statutes Online § 31301 — Number and election of directors, with citation guidance and answers to common questions.
§ 31301. Number and election of directors
- (a) The governing body of a credit union shall consist of an odd number of directors,
at least five in number. The initial governing body shall be elected at the organizational
meeting of the credit union as provided in subsection 31103(e) of this title, and thereafter by the members of the credit union at the annual meeting. (b) Each director shall hold office for the term provided in the bylaws as long as the
director is qualified to serve and until the director’s successor has qualified. The
term of a director may not exceed three years. A director may serve more than one
term. If directors are elected for terms in excess of one year, their terms of office
shall be staggered so that, insofar as possible, an equal number expires each year. (Added 2005, No. 16, § 1, eff. July 1, 2005.)
Source: official Vermont text · Last verified 2026-08-27
Frequently Asked Questions About Vermont § 31301
What does Vermont Statutes Online § 31301 cover?
Section 31301 ("Number and election of directors") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 31301?
A common citation format is "Vermont Statutes Online § 31301" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 31301 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.