Alaska Statutes (Last Updated: January 11, 2017) |
Title 06. BANKS AND FINANCIAL INSTITUTIONS. |
Chapter 06.15. MUTUAL SAVINGS BANK ACT. |
Article 06.15.01. FORMATION AND MANAGEMENT OF MUTUAL BANKS. |
Section 06.15.070. Terms of trustees.
Latest version.
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The corporators shall, by a majority vote of those present at their organizational meeting, elect a board of trustees in the following manner: one-third for a term of one year; one-third for a term of two years; and one-third for a term of three years. Thereafter trustees shall be elected to serve for a term of three years. The office of any trustee becomes vacant if the trustee ceases to hold office as a corporator.
Notes
History
(Sec. 6 a ch 132 SLA 1960)