(a) The directors of a cooperative association shall annually elect, unless otherwise provided by the bylaws, the following officers for the cooperative association:
- (1) a president;
- (2) one or more vice presidents; and
- (3) a secretary and treasurer or a secretary-treasurer.
- (b) Any two or more offices, other than the offices of president and secretary, may be held by the same person.
- (c) The officers of a cooperative association may be designated by other titles as provided by the certificate of formation or the bylaws of the cooperative association.
- (d) A committee duly designated by the board of directors may perform the functions of any office, and the functions of any two or more officers may be performed by a single committee, including the functions of both president and secretary.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.