New Jersey Acts Saved from Repeal ACTS SAVED 15 § 5-11(3)

3. That upon making and recording such certificate, the said persons, their successors and assigns, shall become and be a body politic and corporate and possessed of all the powers mentioned and set forth in the first section of the act concerning corporations; such persons so associated, or a majority of them, shall, within thirty days after such incorporation, and annually thereafter, by a vote of a majority present, elect any members of their said association, not exceeding seven, to be directors of such corporation, who shall thereupon choose from their number a president, secretary and treasurer, and such other officers and assistants as they may deem requisite and necessary; and such directors shall have power to frame, establish and ordain, from time to time, such by-laws, ordinances and regulations for the government of such corporation and the advancement of the purposes thereof as they shall judge best; provided, the same be not repugnant to the constitution or laws of this state or the United States.