Unless the organic rules otherwise provide, a board of directors may create one or more committees and appoint one or more individuals to serve on a committee. Unless the organic rules otherwise provide, an individual appointed to serve on a committee of a limited cooperative association need not be a director or member. An individual who is not a director and is serving on a committee shall have the same rights, duties, and obligations as a director serving on the committee. Unless the organic rules otherwise provide each committee of a limited cooperative association may exercise the powers delegated to it by the board of directors, but a committee shall not: Approve allocations or distributions except according to a formula or method prescribed by the board of directors; Approve or propose to members action requiring approval of members; or Fill vacancies on the board of directors or any of its committees.
‹ Prev All District Of Columbia sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.