Directors may be elected for a term of three years or less. If directors are elected for terms in excess of one year their terms of office shall be staggered so that insofar as possible an equal number of such terms shall expire each year.
Cal. Fin. Code § 14451
Directors
Known as the California Credit Union Law
The act spans §§ 14000–16906 (329 sections).
Repealed and added by Stats. 1979, Ch. 112.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.