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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.
Cite this article: FindLaw.com - Alaska Statutes Title 6. Banks and Financial Institutions § 06.15.070. Terms of trustees - last updated April 21, 2021 | https://codes.findlaw.com/ak/title-6-banks-and-financial-institutions/ak-st-sect-06-15-070/
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