The certificate of incorporation of any corporation qualifying hereunder shall provide
that, during the period of its existence as a railroad redevelopment corporation,
one-third of the members of its board of directors shall be residents of the counties
served by such corporation and shall be otherwise unaffiliated, directly or indirectly,
with such corporation or any stockholder thereof; and that the individuals who are
elected initially as such directors shall continue to serve throughout such period,
except that, in the event any of them shall die, resign, or become incapable of performing
the duties of a director, a successor or successors shall be named by the remaining
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