Sec. 13. The directors shall elect from their number, a president, and one or more vice-presidents.

213 words·~1 min read·/il/chapter-805/act-315/13

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Sec. 13. The directors shall elect from their number, a president, and one or more vice-presidents. They shall also elect a secretary and treasurer, who need not be directors or members of the association, and they may combine the two latter offices and designate the combined office as secretary-treasurer, or unite both functions and titles in one person. The treasurer may be a bank or any depository, and as such, shall not be considered as an officer, but as a function of the board of directors.

In such case, the secretary shall perform the usual accounting duties of the treasurer, except that the funds shall be deposited only as and where authorized by the board of directors. The by-laws may provide for the election of the president and vice-presidents by the members at annual meetings.

Within 30 days after the first election of officers, the association shall file a report with the Director of Agriculture on forms prescribed by the Director of Agriculture. The report shall contain the following:

(1)The name of the association.

(2)The names and addresses of the association's principal officers and directors.

(3)The association's principal place of business.

(4)A general statement of the association's proposed business operations.

(5)The end of the association's proposed fiscal year.