(1) A limited cooperative association has the officers: (a) Provided in the articles or bylaws; or(b) Established by the board of directors in a manner not inconsistent with the articles and bylaws.(2) The articles or bylaws may designate or, if the articles or bylaws do not designate, the board of directors shall designate, one of the association's officers for preparing all records required by section 7-58-112 and for the authentication of records.(3) Unless the articles or bylaws otherwise provide, the board of directors shall appoint the officers of the limited cooperative association.(4) Officers of a limited cooperative association shall perform the duties the articles and bylaws prescribe or as authorized by the board of directors in a manner not inconsistent with the articles and bylaws.(5) The election or appointment of an officer of a limited cooperative association does not of itself create a contract between the association and the officer.(6) Unless the articles or bylaws otherwise provide, an individual may simultaneously hold more than one office in a limited cooperative association.L. 2011: Entire article added, (SB 11 -191), ch. 197, p.

less the articles or bylaws otherwise provide, an individual may simultaneously hold more than one office in a limited cooperative association.L. 2011: Entire article added, (SB 11 -191), ch. 197, p. 797, § 1, effective 4/2/2012.