N.Y. BNK Law § 442
This is the official text of N.Y. BNK Law § 442, part of New York’s BNK Law — part of the compiled statutory law of New York, published by the state as "BNK Law." Browse the sections below, each linked to its official government source.
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Number of directors; filling of vacancies; change of number
Official statutory text
§ 442. Number of directors; filling of vacancies; change of number. 1.\nThe number of directors of the savings and loan bank shall be not less\nthan seven nor more than fifteen.\n 2. All vacancies in the office of director shall be filled by election\nby the members except as provided in this section. Vacancies not\nexceeding one-third of the whole number of the board may be filled by\nthe affirmative vote of a majority of the directors then in office, and\nthe directors so elected may hold office until such vacancies are filled\nby the members at a special or annual election; or when the number of\ndirectors is nine or more, two vacancies may, with the consent of the\nsuperintendent, be left unfilled until the next annual election.\n 3. The number of directors may be changed within the limits provided\nin subdivision one of this section by amendment of the by-laws.\n
Status: in_force · Read it on the official government site
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