Title
Election - Office of Secretary and Treasurer
Other Info
Submitted By: Andrea Stover
Department: General Counsel
Financial Impact and Cost/Benefit Considerations: Pursuant to Section 3.2.1 of the Board of Directors Compensation Policy, Directors who serve as an Officer of the Board shall receive a monthly fee of $100 (which is currently included within the Operating Budget) in addition to the fixed monthly fee.
Discussion
Pursuant to the Bylaws of Pedernales Electric Cooperative, Inc. (PEC), the officers of PEC include a President, Vice President, Secretary and Treasurer, and these officers are elected at the first regular meeting of the Board of Directors after the Annual Meeting of the Members.
PEC BYLAWS
ARTICLE V - Officers
Section 1. Board Officers. The officers of the Board of Directors of the Cooperative shall be a President, Vice President, Secretary and Treasurer ("Officers"). The offices of Secretary and Treasurer may be held by the same person.
Section 2. Election and Term of Office. The Officers shall be elected annually by and from the Board of Directors at the first regular meeting of the Board of Directors, or first special meeting of the Board of Directors called for that purpose, held after a Member Meeting at which Directors were elected.
Section 7. Secretary. The Secretary shall: be responsible for minutes of meetings of the Members and the Board of Directors; be responsible for authenticating the Cooperative’s records; and in general, perform all duties incident to the office of Secretary and such other duties as from time to time may be assigned by the Board of Directors.
Section 8. Treasurer. The Treasurer shall in general, perform all the duties incident to the office of Treasurer and such other duties as from time to time may be assigned by the Board of Directors.