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Section 803 - Qualifications of directors.

UT Code § 16-16-803 (2019) (N/A)
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(1) Unless the organic rules otherwise provide, and subject to Subsection (3), each director of a limited cooperative association shall be an individual who is a member of the association or an individual who is designated by a member that is not an individual for purposes of qualifying and serving as a director. Initial directors need not be members.

(2) Unless the organic rules otherwise provide, a director may be an officer or employee of the limited cooperative association.

(3) If the organic rules provide for nonmember directors, the number of nonmember directors may not exceed: (a) one, if there are two through four directors; (b) two, if there are five through eight directors; or (c) 1/3 of the total number of directors if there are at least nine directors.

(a) one, if there are two through four directors;

(b) two, if there are five through eight directors; or

(c) 1/3 of the total number of directors if there are at least nine directors.

(4) The organic rules may provide qualifications for directors in addition to those in this section.

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Section 802 - No liability as director for limited cooperative association's obligations.
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Section 804 - Election of directors and composition of board.