The persons appointed under the provisions of section 40:61-30 of this title shall be known and designated as the (name to be chosen by the commissioners) intermunicipal park commission. Such commissioners shall hold office for a period of five years from the date of their appointment and until their successors are appointed and qualified and shall serve without compensation. Within thirty days after their appointment the commissioners shall take an oath faithfully to perform their duties. They shall select one of their number as president, one as clerk or secretary and one as treasurer.
In case of the death, resignation or disability of any member of the commission, the municipality from which he was appointed shall fill the vacancy for the unexpired term.