Directors shall be elected for periods of three years and until their successors are elected and qualified, but provision shall be made for the election of approximately one-third of the board of directors each year.
Cal. Fin. Code § 6153
Directors
Known as the Savings Association Law
The act spans §§ 5000–10009 (387 sections).
Added by Stats. 1983, Ch. 1091, Sec. 2.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.