New Jersey § 17:9a-111

§ 17:9a-111.

Officers; election; appointment; limitation. A. At the first meeting of the board of directors following each annual meeting of

the stockholders of a bank, the directors shall elect a chairman of the board of directors,

if the office of chairman of the board of directors has been created pursuant to section

107 of P.L.1948, c. 67 ( C.17:9A-107 ) , and a president, from their own number. They shall also elect at such meeting either a cashier or a secretary and a treasurer,

none of whom need be a director. Other officers, including one or more vice-presidents, who need not be directors,

may from time to time be elected or appointed by the board of directors , or by the president if the authority to appoint officers other than president or

chairman has been delegated to the president by the bylaws or by resolution of the

board of directors . B. Any person who holds more than one office in a bank shall not sign in more than

one official capacity any writing requiring the signatures of more than one officer

of the bank.