Alaska Statutes.
Title 6. Banks and Financial Institutions
Chapter 15. Mutual Savings Bank Act
Section 70. Terms of Trustees.
previous: Section 60. Trustees.
next: Section 80. Management and Control of Mutual Bank; Bylaws.

AS 06.15.070. Terms of Trustees.

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.

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