Organizational meeting; election of officers; bylaws, rules, and
regulations; quorum
Sec. 2. Promptly after the fifteenth day of January of each year,
the board of managers shall hold a meeting for the purpose of
organization. They shall choose one (1) of their members president,
another vice-president, another secretary and another treasurer, who
shall perform the duties pertaining to those offices. The first officers
chosen shall serve from the date of their election until their
successors are elected and qualified. The members shall be
authorized to adopt such bylaws and rules and regulations as they
deem necessary for the proper conduct of their proceedings, the
carrying out of their duties and the safeguarding of the funds and the
property entrusted to their care. A majority of the board of managers
constitutes a quorum, and the concurrence of a majority of the board
of managers is necessary to authorize any action.
As added by Acts 1976, P.L.23, SEC.1.
Last modified: May 28, 2006