43:19-3 - Board of trustees - New Jersey Statutes

43:19-3.  Board of trustees
    The first board of trustees selected as provided in section 43:19-2 of this  title shall serve until the month of January following the incorporation hereunder.  At such time three members of the corporation shall be elected to serve as trustees in place of the three selected as provided in said section 43:19-2, by a majority vote of the members of the corporation, as follows: One  for the term of one year, one for the term of two years and one for the term of  three years, who shall serve for the respective terms for which they were  chosen, and thereafter annually in the month of January a member of the board  of trustees shall be chosen for a full term of three years to serve in the  place of the trustee whose term shall have then expired, so that the term of  office of but one member shall expire in each year.  If any trustee so elected  resigns or dies during the term for which he was elected, the remaining  trustees shall select from the members of the association a trustee in the  place of and for the unexpired term of such trustee.