Board of directors: Powers.
1.Act upon applications for membership or appoint membership officers from the members of the credit union to act upon membership applications subject to conditions imposed by the board. If membership officers are appointed they shall submit at each board meeting a list of approved or pending applications for membership.
2.Invest surplus funds or designate an officer or committee to be responsible for making investments subject to rules and procedures established by the board of directors.
3.Authorize the employment of persons necessary to carry on the business of the credit union.
4.Authorize the conveyance of property.
5.Borrow or lend money to carry on the functions of the credit union.
6.Appoint any special committees which the board feels necessary to carry on the business of the credit union.
7.Perform or authorize any action not inconsistent with this chapter and not specifically reserved by the bylaws for the members.
8.Employ a general manager to be in charge of operations or, in lieu thereof, designate the treasurer to act as general manager and be in active charge of the affairs of the credit union.
9.Amend the bylaws of the credit union.
Section 678.380 — Board of directors: Powers.,