ALBERT C. RITCHIE, GOVERNOR. 943

ness or cause its affairs to be finally liquidated as by law pro-
vided.

SEC. 8. The fiscal year of every credit union shall end
at the close of business on December thirty-first. The annual
meeting shall be held at such time in January as the by-laws
may provide. Special meetings, may be held by order of the
directors or of the supervisory committee or at the request
of ten per cent, of the members. Notice of all meetings shall
be given in the manner provided in the by-laws. A member
shall have but one vote, irrespective of the shares held. No
shareholder may vote by proxy but a society, association, co-
partnership or corporation having membership in the credit
union, may be represented by one person authorized by said
society, association, co-partnership or corporation to represent
it. At any meeting the members, may decide upon any ques-
tion of interest to the corporation, and overrule the board of
directors, and, by a three-fourths vote of those present and
represented, provided the notice of the meeting shall have
specified the question to be considered, may vote to amend
the by-laws.

SEC. 9. At the annual meeting the members shall elect
a board of directors of not less than five members, a credit
committee and a supervisory committee of not less than three
members each. Unless the number of members, of the credit
union is less than eleven no member of said board shall be
a member of more than one committee and all members of
committees and all directors, as well as the officers whom they
may elect shall be sworn, to the faithful performance of their
duties, and shall hold their several offices for such term as
may be determined by the by-laws.

SEC. 10. At their first meeting in each fiscal year the
board of directors shall elect from their own number a presi-
dent, vice-president, a secretary and a treasurer who shall be
the executive officers of the corporation. The offices of secre-
tary and treasurer may, if the by-laws so provide, be held by
one person. The board of directors shall have the general
management of the affairs, funds and records of the corpora-
tion and shall meet as often as may be necessary. It shall
be the special duty of the directors; (a) To act upon all
applications for membership and the expulsion of members;
to fix the amount of the surety bond which shall be required