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Chief executive officer

A chief executive officer is a manager the board of a 308B cooperative may employ to run day-to-day affairs, without authority reserved to the board or members.

Verified against sources: October 15, 2026Last edited: October 15, 2026

The board may employ a chief executive officer to manage the day-to-day affairs and business of the cooperative. The CEO has authority to implement the cooperative's functions, duties and obligations except as the board restricts, and may not exercise authority reserved to the board or the members § 308B.475, subd. 5 P1. The CEO is the one officer, among those listed in subdivision 1, who is not subject to the rule that officers cannot bind the cooperative except as the board authorizes § 308B.475, subd. 1 P1.

See Director and officer rules in Chapter 308B.

Statute sections referenced

Sources

  • P1 Minnesota Statutes, Chapter 308B (Cooperative Associations), Office of the Revisor of Statutes, State of Minnesota. revisor.mn.gov (primary; accessed October 15, 2026)

glossary

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