New York § 442 Number of directors; filling of vacancies; change of number

New York Statutes

§ 442 — Number of directors; filling of vacancies; change of number

New York § 442

Law BNKBanking

Art. 10-BSavings and Loan Bank of the State of New York

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Bluebook

N.Y. Banking § 442 (2026).

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 th

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§ 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