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2019 Alaska Statutes
Title 6. Banks and Financial Institutions
Chapter 15. Mutual Savings Bank Act
Article 1. Formation and Management of Mutual Banks.
Sec. 06.15.070. Terms of trustees.
Universal Citation: AK Stat § 06.15.070 (2019)
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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