Laws of North Carolina (Last Updated: May 12, 2015) |
Chapter54. Cooperative Organizations. |
SubchapterII. LAND AND LOAN ASSOCIATIONS |
Article8. Organization and Powers |
§54-52. Organization
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The incorporators at their first annual meeting shall elect by ballot from their number a board of trustees of not less than six members who shall adopt a code of bylaws and a plan of organization approved by the Commissioner of Agriculture and the Commissioner of Banks.
(1925, c. 223, s. 4; 1931, c. 243, s. 5.)