§ 36-7-38-7 — Boards of land banks of second class cities

(a) This section applies to the board of a land
bank established by a second class city.
(b) The board of a land bank to which this section applies is
comprised of the following:
(1) Three (3) directors appointed by the executive of the second
class city. A director appointed under this subdivision must be a
resident of the second class city.
(2) Three (3) directors appointed by the legislative body of the
second class city. A director appointed under this subdivision
must be a resident of the second class city.
(3) A director appointed by the county treasurer of the county in
which the second class city is located, or the county treasurer of
the county in which most residents of the second class city reside,
if the second class city is located in more than one (1) county. A
director appointed under this subdivision must be a resident of the
second class city.
(4) At most two (2) additional directors appointed, as applicable,
in the manner and subject to the requirements set forth in the land
bank's bylaws.
(c) The terms of the initial directors of a land bank to which this
section applies are equal to:
(1) the remainder of the calendar year in which the land bank is
established; plus
(2) a number of additional years equal to:
(A) one (1) calendar year, for directors appointed under
subsection (b)(1);
(B) two (2) calendar years, for directors appointed under
subsection (b)(2); and
(C) three (3) calendar years, for directors appointed under
subsection (b)(3) or (b)(4).

Legislative History

As added by P.L.211-2016, SEC.1.